HCL Technologies, Federal Bank, and Coforge hit a 52-week high today: Here’s why

On Tuesday, 43 stocks reached 52-week highs even as major indices traded flat. NIFTY50 rose by 0.07% to 24,150, while the SENSEX traded 0.02% lower at 79,473 level. NIFTY Bank declined by 0.09%, reaching 51,830. India's volatility index, India VIX, increased by 0.77%, staying close to the 14.4 mark.

Broader market indices remained positive, with the NIFTY Midcap 100 up 0.48% and the NIFTY Smallcap 100 rising by 0.55%. Sectoral indices showed mixed performance: NIFTY Realty rose 1.49%, while NIFTY Auto fell around 0.35%.

HCL Technologies (52-week high: ₹1,892.9)

The stock surged 1.40% from its previous close, hitting a 52-week high of ₹1,892.95. By 12 pm, it traded at ₹1,882, up 0.83%.

Recently, the company announced the integration of AI Force with GitHub Copilot to enhance software development workflows, improve developer flexibility, and optimise code performance.

In Q2 FY25, consolidated revenue rose to ₹28,862 crore from ₹26,672 crore in Q2 FY24, an 8.21% YoY growth, while PAT increased to ₹4,237 crore from ₹3,833 crore.

The stock delivered a 4.36% return over the past month and has a market capitalisation of ₹5.09 lakh crore.

Federal Bank (52-week high: ₹209.7)

The stock surged 0.07% from its previous close, hitting a 52-week high of ₹209.20. By 9:49 a.m., it traded at ₹207.80, up 0.03%.

The bank has shown strong growth in its loan book over recent years. From FY22 to FY24, the loan book grew at a 20% CAGR, while deposits grew at 18%. Despite challenges with NIMs and rising operational costs, the bank's asset quality remains strong, with a GNPA of 2.1% and a net NPA of 0.7% for FY24.

In Q2 FY25, net profit rose by 10.8% YoY to ₹1,056.7 crore from ₹954 crore in Q2 FY24. The bank’s NII (net interest income) stood at ₹2,367.3 crore, marking a 15% increase from ₹2,056.4 crore in the same period last year. NIM stood at 3.12% in Q2 FY25 (vs. 3.22% in Q2 FY24).

The stock delivered a 12.08% return over the past month and has a market capitalisation of ₹50,971 crore.

Coforge Ltd (52-week high: ₹8,159)

The company demonstrated strong Q2 FY25 performance and is expected to continue growing in the coming quarters. Coforge projects mid-teen growth in organic CC terms over the next two financial years, supporting its high valuation with a P/E ratio of 68.4x (vs. industry average of 39.6x).

In Q2 FY25, consolidated revenue increased to ₹3,062 crore from ₹2,276 crore in Q2 FY24, a 34.54% YoY growth, while PAT rose to ₹234 crore from ₹188 crore.

The stock delivered an 11.40% return over the past month and has a market capitalisation of ₹53,939 crore.