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HDFC Bank to Tech Mahindra: These stocks rally over 2% to hit 52-week high

Upstox
By Upstox News Desk

3 min read | Updated on December 04, 2024, 13:57 IST

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SUMMARY

Shares of India’s largest private lender, HDFC Bank Ltd rose as much as 2.11% on Wednesday to hit their record-high levels of ₹1,865 apiece on the NSE. Tech Mahindra Limited shares gained as much as 1.4% on Wednesday to hit their 52-week high of ₹1,774.6 apiece on the NSE.

Stock list

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HDFC Bank to Safari Industries: These stocks rise more than 2% to hit 52-week highs

As many as 87 securities hit their 52-week high on the National Stock Exchange of India (NSE) on Wednesday, December 4.

At 1:15 pm, the NIFTY50 index traded at 24,508, up 51 points, or 0.21%. The BSE SENSEX jumped 250 points, or 0.31%, to 80,096.

The volatility index, or India VIX, was up 1.32% at 14.56. Among sectoral indices, the bank, realty and IT indices were among the biggest gainers, while the auto, metal and pharma indices were trading in the red.

Here’s a look at three major stocks that touched their 52-week highs on Wednesday, December 4, 2024:

HDFC Bank (52-week high: ₹1,865)

Shares of India’s largest private lender, HDFC Bank Ltd rose as much as 2.11% on Wednesday to hit their record-high levels of ₹1,865 apiece on the NSE. With this, the bank’s market capitalisation also crossed the ₹14-lakh-crore milestone. The stock has been trading in the green for the past four consecutive sessions and had hit its lifetime high on Tuesday as well.
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The rally came after a block deal and four other large trades happened on the HDFC Bank stock counter on Tuesday. In the block deal, 21.7 lakh shares of HDFC Bank were traded at ₹1,822.70 apiece. Four additional large deals collectively involved 8 lakh shares and happened at an average price of ₹1,837.40. Buyers and sellers were not known immediately.

Tech Mahindra (52-week high: ₹1,774.6)

Tech Mahindra Limited shares gained as much as 1.4% on Wednesday to hit their 52-week high of ₹1,774.6 apiece on the NSE. The share price has been trading in the green for the past three days, posting modest gains. The stock is up almost 44% in the past one year.

Leading software services company Tech Mahindra had last week announced that it has signed a multi-year strategic collaboration agreement with Amazon Web Services to develop an Autonomous Networks Operations Platform (ANOP) designed for communication service providers and enterprise customers. This platform enables customers to transition their network operations from an on-premise infrastructure to a real-time proactive and preventive model operating on a hybrid cloud.

Safari Industries (India) (52-week high: ₹2,727.55)

Popular luggage brand Safari Industries India Limited shares jumped as much as 1.6% on Wednesday to hit their 52-week high of ₹2,727.55 apiece, but dropped later to trade 0.9% lower than their previous close. The stock has risen a cumulative 7.3% in the previous four sessions.

Safari Industries on Tuesday announced that its wholly-owned subsidiary, Safari Manufacturing Ltd, has successfully commenced its commercial production/manufacturing of luggage on December 2, 2024, at its newly set up greenfield manufacturing facility at Jaipur, Rajasthan, after completion of trial-runs. As per experts, the company is also expected to post a bounce-back in terms of earnings in the coming quarter on stronger demand led by festive pre-stocking as compared to the September quarter, which was marred by heatwave.

Other stocks that hit 52-week high: Shares that hit their 52-week highs on Wednesday include Mastek Ltd, Monte Carlo Fashions Ltd, Oracle Financial Services Software Ltd, Persistent Systems Ltd, The Indian Hotels Co. Ltd, Agi Infra Ltd, Associated Alcohols and Breweries Ltd, Bang Overseas Ltd, Gallantt Ispat Ltd, Kiri Industries Ltd, Krishna Institute of Medical Sciences Ltd, Xpro India Ltd, Windsor Machines Ltd, Lincoln Pharmaceuticals Ltd, Mcleod Russel India Ltd, Enviro Infra Engineers Ltd, DMCC Speciality Chemicals Ltd, Central Depository Services (India) Ltd, Caplin Point Laboratories Ltd and Bansal Wire Industries Ltd.

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