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  5. Indian Hotels, Fortis Healthcare hit 52-week high despite market fall; here’s why

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Indian Hotels, Fortis Healthcare hit 52-week high despite market fall; here’s why

Upstox
By Upstox News Desk

3 min read | Updated on November 21, 2024, 12:58 IST

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SUMMARY

Among the sectoral indices, the NIFTY Metal was the biggest loser, down almost 3%. Only two sectoral indices were trading in the green – the NIFTY IT (up 0.6%) and the NIFTY Pharma (0.01%). Shares of The Indian Hotels (IHCL) rose as much as 3% on Thursday to hit their 52-week high of ₹776.25 apiece on the NSE.

Stock list

INDHOTEL
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ARTEMISMED
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FORTIS
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Indian Hotels to Artemis Medicare: Stocks that hit 52-week highs on NSE today

Indian Hotels to Artemis Medicare: Stocks that hit 52-week highs on NSE today

As many as 25 stocks hit their 52-week highs on the National Stock Exchange of India (NSE) on Thursday, November 21.

This happened on the day when broader equity indices were trading in the red. As of 10:48 am, the NIFTY 50 index was trading lower by 0.76%, or 179.4 points, at 23,339.1. Meanwhile, the BSE SENSEX was down 549.57 points, or 0.71%, to 77,028.81. The volatility index INDIA VIX was up 0.5% to 15.75.

Among the sectoral indices, the NIFTY Metal was the biggest loser, down almost 3%. Only two sectoral indices were trading in the green – the NIFTY IT (up 0.6%) and the NIFTY Pharma (0.01%).

Here’s a look at three major stocks that touched their 52-week highs on Thursday, November 21, 2024.

Indian Hotels (52-week high: ₹796.2)

Shares of Indian Hotels (IHCL), South Asia’s largest hospitality-focused enterprise, rose more than 5% on Thursday to hit their 52-week high of ₹796.25. The stock has jumped over 15% in the past one month and a whopping 84% in the past one year.

Indian Hotels is on investors’ radar as its management aims for aggressive expansion in the next few years. The company plans to open an average of one new hotel per week until FY30.

IHCL’s revenue rose 27.4% year-on-year to ₹1,826 crore in the September quarter, while profit after tax (PAT) skyrocketed 225% to ₹583 crore during the three-month period. The company’s hotel portfolio comprises 350 properties.

Artemis Medicare Services (52-week high: ₹320)

Shares of Artemis Medicare Services, a Gurugram-based multi-speciality hospital, surged more than 10% on Thursday to hit a fresh 52-week high of ₹320 apiece on the NSE. The share price has risen for the past three consecutive sessions and is up 11.5% in the last one week. In the past one year, the stock has rallied 82.5%.

The recent rally was triggered after the company reported strong Q2 results last week. Its net profit increased almost 64% to ₹22.56 crore for the quarter ended September 2024 as against ₹13.77 crore in the year-ago period. Sales rose 8.2% to ₹234.67 crore during the quarter as against ₹216.91 crore a year ago.

Fortis Healthcare (52-week high: ₹691)

Fortis Healthcare stock gained more than 4% to hit its 52-week high of ₹691 apiece on the NSE on Thursday. Interestingly, this is another Gurugram-based private hospital network after Artemis Medicare, whose share price hit the year’s high on November 21.

The stock has gained over 7% in the past five trading sessions and 83% in the past one year. Malaysia’s IHH Healthcare Bhd had taken control of Fortis Healthcare in November last year and had appointed representatives from IHH on its board.

Earlier this week, the company was in the news after it announced that renowned cardiac surgeon Dr Ashutosh Raghuvanshi has been appointed as its CEO. Raghuvanshi replaces Bhavdeep Singh, who resigned from the hospital chain in November, citing personal reasons.

Other stocks that hit 52-week highs

Among other companies that hit their 52-week highs on Thursday include Indiabulls Enterprises Ltd, Jindal Poly Investment and Finance Co. Ltd, Jash Engineering Ltd, Pearl Global Industries Ltd, Windsor Machines Ltd, Sasken Technologies Ltd, Nagreeka Capital and Infrastructure Ltd and AGI Infra Ltd.

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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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