Indian Hotels, National Aluminium and Netweb Tech reach 52-week highs amid broader market decline

On Friday, 57 stocks reached 52-week highs even as major indices traded in the red. The NIFTY50 declined by 0.12% to 24,170, while the SENSEX fell by 0.05% to 79,500 level. Nifty Bank also tumbled, reaching 51,730, down by 0.34%. India's volatility index, the India VIX, rose by 0.3% to hover near the 15 mark.

Broader market indices remained negative, with the Nifty Midcap 100 down 0.19% and the Nifty Smallcap 100 dipping by 0.34%. Sectoral indices were mixed, with Nifty IT rising over 1%, while Nifty Media falling around 1%.

Here’s a look at three stocks that reached 52-week highs on Friday, November 8, 2024:

Indian Hotels Co Ltd

The stock surged 6.20% from its previous close, hitting a 52-week high of ₹725.90.

The company delivered its best-ever Q2 performance (beating street estimates), achieving a 71% occupancy rate for the quarter. Additionally, it agreed to acquire majority ownership in the Tree of Life brand, planning to expand its portfolio from 19 properties to 100 by the end of FY30.

In Q2 FY25, revenue increased to ₹1,826 crore from ₹1,433 crore in Q2 FY24, a 27.42% YoY growth, while PAT rose to ₹583 crore from ₹179 crore in Q2 FY24.

The stock delivered a 5.74% market return over the past month and has a current market capitalisation of ₹1,02,508 crore.

National Aluminium Company Ltd

The stock surged by 3.9% from its previous close, hitting a 52-week high of ₹247.99. Mining stocks rallied after the Supreme Court of India directed the government to reconsider the current mining royalty calculation methodology, which places excessive financial burdens on companies.

In Q1 FY25, revenue decreased to ₹2,856 crore from ₹3,179 crore in Q1 FY24, a 10.15% YoY decline. However, PAT rose to ₹601 crore from ₹349 crore in Q1 FY24.

The stock delivered a 16.54% market return over the past month, with a current market capitalisation of ₹44,603 crore.

Netweb Technologies India Ltd

The stock surged by 5.1% from its previous close, reaching a 52-week high of ₹2,980.

The stock’s performance reflects strong quarterly results and improved metrics, including a cash conversion cycle reduction to 100 days (from 129 days in Q1 FY25). The management has expressed confidence in maintaining a growth trajectory of 35-40% CAGR, supported by a robust project pipeline.

In Q2 FY25, revenue rose to ₹251 crore from ₹145 crore in Q2 FY24, a 73% YoY increase, while PAT increased to ₹26 crore from ₹15 crore in Q2 FY24.

The stock delivered a 16.77% market return over the past month, having a current market capitalisation of ₹16,279 crore.