HCL Technologies, PolicyBazaar, Eureka Forbes shares hit a 52-week high: Here’s why

As many as 88 stocks hit their 52-week high on the National Stock Exchange of India (NSE) on Friday, December 6, even as broader markets remained flat after the Reserve Bank of India (RBI) kept key rates unchanged.

As of 11:58 am, the Nifty 50 index was trading flat at 24,703.55, down 4.85 points. The BSE Sensex, meanwhile, was trading at 81,821.4, up 55.5 points.

The volatility index, or India VIX, was down 2.3% to 14.19.

Among sectoral indices, the FMCG and Consumer Durables indices were the biggest gainers, while the Realty Index was the biggest loser.

Here’s a look at three major stocks that touched their 52-week highs on Friday, December 6, 2024.

HCL Technologies Ltd (52-week high: ₹1,939.35)

The Indian rupee has hit its lifetime low of 84.74 against the US dollar. A weaker rupee against the dollar aids strong revenues for IT service exports, including HCL Technologies.

Earlier this week the company announced collaboration with Google Cloud Security to provide AI-driven Managed Detection and Response (MDR) solutions, empowering enterprises with comprehensive security coverage to respond to cyber threats.

PB Fintech Ltd (52-week high: ₹2,107.9)

Earlier this week, PB Fintech announced plans to diversify into the healthcare sector with the incorporation of a wholly-owned subsidiary. The company’s board of directors approved the proposal through a circular resolution on December 3, 2024. The new entity, tentatively named ‘PB Healthcare Pvt. Ltd’ or ‘PB Healthcare Services Pvt. Ltd’, will “carry on the business of healthcare services”. The subsidiary will have an authorised share capital of ₹5 lakh.

Eureka Forbes Ltd (52-week high: ₹648)

The company was in the news earlier this week after it announced several significant leadership changes as part of its continued efforts to drive growth and innovation across its business areas.

Before that, the share price had seen a rally last month when Eureka Forbes posted a solid set of earnings for the September quarter. Profit surged almost 85% year-on-year (Y-o-Y) to ₹47.7 crore in the second quarter of 2024-25 compared with ₹25.8 crore a year ago. Revenue from operations rose 13.8% annually to ₹673.1 crore in Q2FY25 from ₹591.4 crore in Q2FY24.

Other stocks that hit 52-week high: Shares that hit their 52-week highs on Friday include Indian Hotels Co. Ltd, BSE Ltd, Goldiam International Ltd, Robust Hotels Ltd, Mohit Industries Ltd, Creative Newtech Ltd, DJ Mediaprint and Logistics Ltd, Cartrade Tech Ltd, Laurus Labs Ltd, 63 Moons Technologies Ltd, Central Depository Services (India) Ltd, Choice International Ltd, Kesoram Industries Ltd, and Zen Technologies Ltd, among others.