Ganesha Ecosphere, Kiri Industries, and Garware Technical Fibres hit new highs amid mixed market sentiment

On Monday, 38 stocks reached 52-week highs as frontline indices traded negatively. The NIFTY50 declined by 0.22%, trading around 23,480, while the SENSEX also dropped by 0.22%, trading near the 77,400 level. Meanwhile, the Nifty Bank climbed by 0.29%, trading at approximately 50,325. India’s volatility index, India VIX, rose by 6.43% to 15.73.

Broader market indices traded in red: the Nifty Midcap 100 is down by 0.04%, while the Nifty Smallcap 100 fell by 0.44%. Sectoral indices also had a mixed performance, with Nifty Metal gaining 1.70% while Nifty IT dropped by 2.15%.

Ganesha Ecosphere (52-week high: ₹2,470)

The company is a leader in PET waste recycling and manufactures recycled polyester staple fibre, spun yarn, and dyed textured yarn in India.

The stock surged by 5.60% from its previous close, hitting a 52-week high of ₹2,470. By 10:21 a.m., it was trading at ₹2,426.25, up 3.75%.

Consolidated revenue for Q2 FY25 grew to ₹387 crore from ₹278 crore in Q2 FY24, a 38.92% YoY increase, while PAT surged to ₹27 crore from ₹3 crore in Q2 FY24.

The stock delivered a 3.46% return over the past month, with a market capitalisation of ₹6,097 crore.

Kiri Industries (52-week high: ₹511.4)

The company is engaged in the business of manufacturing and exporting a wide range of dyes, dye intermediates, and basic chemicals from India.

The stock rose by 10.40% from its previous close, hitting a 52-week high of ₹498.85. By 11:49 a.m., it was trading at ₹497.15, up 10%.

In H1FY25, the company's revenue grew by 17% YoY. Operational expenses increased by 8% due to legal costs. EBITDA margins are also improving; in FY24, the EBITDA margin was -1.29%, which improved to 6.29% in H1FY25, although revenue has been declining since FY23.

For Q2 FY25, consolidated revenue rose to ₹272 crore from ₹231 crore in Q2 FY24, an 18.09% YoY increase, while PAT grew to ₹80 crore from ₹19 crore in Q2 FY24.

The stock delivered a 30.47% return over the past month and has a market capitalisation of ₹2,524 crore.

Garware Technical Fibres (52-week high: ₹4,584.7)

The company is considering a 4-for-1 bonus issue, with the record date yet to be finalised. The stock price is climbing, driven by the company's strong quarterly performance, which included its highest-ever quarterly revenue. Over time, operating margins have also improved, increasing from 19% in FY19 to 21% in FY24.

In Q2 FY25, consolidated revenue grew to ₹421 crore from ₹328 crore in Q2 FY24, marking a 28.11% YoY increase, while PAT rose to ₹66 crore from ₹52 crore in Q2 FY24.

The stock posted a 6.94% return over the past month and has a market capitalisation of ₹8,954 crore.