Hikal Ltd and Windsor Machines hit a 52-week high despite fall in broader markets: Here’s why

On Wednesday, 15 stocks reached 52-week highs even as major indices traded negative. The NIFTY50 declined by 0.75%, trading around 23,700, while the SENSEX fell by 0.54%, trading around 78,250. The Nifty Bank also declined by 0.56%, reaching 50,870. India's volatility index, India VIX, rose by 5%, surging past the 15 mark.

Broader market indices remained negative, with the Nifty Midcap 100 down 1.67% and the Nifty Smallcap 100 dipping by 2.16%. Sectoral indices also showed negative performance, with Nifty Media, Nifty Realty, and Nifty Auto declining around 2%.

Hikal Ltd (52 week high: ₹416)

The stock surged 8.20% from its previous close, reaching a 52-week high of ₹416. By 11:55 a.m., it was trading at ₹389.80, up 1.36%.

The share price increase is attributed to strong quarterly performance. Although revenue growth was modest at 4%, the company’s PAT rose by 38% YoY and 260% QoQ. Hikal’s pharma division is growing, while the crop protection division is declining; however, the management remains cautiously optimistic about gradual recovery in the crop protection segment in the coming quarters.

In Q2 FY25, consolidated revenue increased to ₹453 crore from ₹435 crore in Q2 FY24, marking a 4.14% YoY rise, while PAT rose to ₹25 crore from ₹17 crore in Q2 FY24.

The stock delivered a 15.26% market return over the past month and has a current market capitalisation of ₹4,907 crore.

Windsor Machines Ltd (52 week high: ₹277.3)

This company is engaged in the manufacturing of plastic processing machinery.

The stock surged 10% from its previous close, hitting a 52-week high of ₹277.38. By 11:55 a.m., it was trading at ₹269.35, up 6.6%.

The share price has seen a surge ahead of its meeting of the Company's Board of Directors, which is scheduled on Thursday, November 14, 2024, to consider fundraising.

The company recently acquired Global CNC Private Limited, obtaining a 100% stake in the firm, which specializes in computer numerical controlled (CNC) machines. Windsor Machines has also consistently reduced its liabilities. As of September 30, 2024, borrowings stood at ₹79 crore, down from ₹208 crore on March 31, 2024—a 62% reduction.

In Q2 FY25, consolidated revenue declined to ₹59 crore from ₹89 crore in Q2 FY24, representing a 33.45% YoY decline, while PAT decreased to a loss of ₹37 crore from a profit of ₹1 crore in Q2 FY24.

The stock delivered a 36.23% market return over the past month and has a current market capitalisation of ₹1,740 crore.