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  5. Muthoot Finance, TVS Motor, M&M and Bector Food make a fresh 52-week high today

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Muthoot Finance, TVS Motor, M&M and Bector Food make a fresh 52-week high today

Upstox
By Upstox News Desk

3 min read | Updated on June 06, 2024, 14:10 IST

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SUMMARY

With positive global cues and clarity of India’s election with NDA’s claim for 3rd consecutive term, the market remains assured of the continuance of economic policies. Frontline indices trade to recovery, while FMCG and Auto stocks maintain momentum clinching fresh highs.

Stock list

MUTHOOTFIN
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TVSMOTOR
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BECTORFOOD
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M&M
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52 week high stocks.jpg

Muthoot Finance, TVS Motor, M&M and Bector Food make a fresh 52-week high today

At 11.30 am on Thursday Nifty was trading at 22,868 levels, up 1.09%, while India Vix was at 17.27 levels.

4 stocks that climb fresh 52-week high

Muthoot Finance Ltd - India’s largest gold loan NBFC climbed to a 52-week high on Thursday morning, scrip peaked at ₹1,810.95 this morning. The company reported net revenue of ₹3,408.92 crores for Q4FY24 up 19.47% on a YoY basis. EPS increased to ₹26.32 in Q4FY24 from 22.49 in Q4FY23.

In a recent interview with one of the newsdaily company’s MD George Alexander Muthoot said “Muthoot Finance is planning to increase its non-gold loan mix to 20% in the next 3-5 years from 15% currently.” The stock has given over 58% return in the last 12 months.

TVS Motor Company Ltd - Chennai-headquartered two-wheeler manufacturer’s scrip hit a fresh 52-week high on Thursday morning at ₹2397.30. There has been a surge in two-wheeler auto stocks on the expectation that the new coalition government may shift its focus towards prioritising rural spending over capital expenditure.

For the month of May, the company reported a total sales unit of 3,59,590 units resulting in 13% YoY growth. The scrip of TVS Motor has gained 76% in the previous 12 months while the Nifty Auto index surged 65% in the previous 12 months.

Mrs. Bectors Food Specialities Ltd - Upward moves continue in FMCG stock amid a volatile environment as Mrs. Bector Food stock price surged to ₹1503.95 in early trade on Thursday. Biscuit manufacturer under the brand name Cremica reported strong results for Q4FY24 with a topline increase of 17.43% and the profit increased by 21.56% YoY. The company reported the highest-ever PAT margin at 8.3% in Q4FY23. The stock has soared around 95% in the previous 12 months and currently trades at a P/E of 62.80.
Mahindra And Mahindra Ltd - India’s largest vehicle manufacturer by production in India clinched a fresh 52-week high at ₹2761.90. The homegrown automaker reported May 2024 sales of 43,218 SUVs with 31% YoY and a total volume of 71,682 at 17% growth YoY.

The manufacturer’s new launch XUV3X0, opened for booking on 15th May and hit the 50,000 mark within the first hour of bookings. Company’s operating margins have improved slightly to 19% in Q4FY24 from 18% in Q3FY24. The stock has gained almost 94% in the preceding 12 months and currently trades at a P/E of 30.57. The company has announced ₹21.10 per share, the highest payout in the company’s history with Q4FY24 results having 05 July 2024 as the record date.

Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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