Info Edge (India), Kaynes Technology India, Gabriel India clinch fresh 52-week high; here’s why

On Friday, over 49 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,262, up 0.49%, and SENSEX at 79,467, up 0.46%. Nifty Bank is trading at 49,973, up 0.49%, while the fear gauge India VIX fell to 15.07.

The broader market indices traded in the green, with Nifty Midcap 100 up 0.91% and Nifty Smallcap 100 up 1.10%. All the sectoral indices traded in the green except for Nifty Pharma which is trading down 0.05%, while Nifty IT and Realty remained top gainers.

Top three stocks that hit a fresh 52-week high on Friday, August 16, 2024

Info Edge (India) Ltd- The online job portal popularly known as Naukri scrip scaled to a fresh 52-week high of ₹7,386.3 after soaring up 2.07% on Friday’s trade.

The stock witnessed buying interest, as it has rallied over 5% in the last 5 sessions, posting its earnings for Q1. In Q1FY25 the company recorded 8% growth in revenue of ₹677 crore on a consolidated basis, compared to ₹626 crore in the corresponding quarter of the previous year, further net profit grew at 76% YoY to ₹259 crore.

On the operating front, billings for the company on a standalone basis for the quarter grew by 10.8% YoY and stood at ₹579.3 crore. The company maintained its operating profit margins at 35.6% of revenue and registered a growth of 8.8% in its operating profit which stood at ₹227.3 crore on a standalone basis in Q1FY25 as compared to ₹208.9 crore in Q1FY24. The standalone business generated cash from operation (before taxes) of ₹173.9 crore for the quarter, a growth of 20.2% YoY.

The recruitment business continued the uptick in Q1, whereas non-recruitment businesses also continued to grow with reduced operating losses. Revenues growth in the recruitment business was 5.6% year on year and for non-recruitment business verticals namely 99acres (the real estate vertical), Jeevansathi (the matrimony business), and Shiksha (the education business) was 19.5%, 34.7%, and 18.4% respectively.

In the last 6 months, the stock surged 40%, while in the 12 months, the stock has jumped 70%.

Kaynes Technology India Ltd - One of India’s leading IoT solutions-enabled integrated electronics manufacturer stock soared 7% on Friday, peaking at a 52-week high at ₹5,210. The stock price of the company has soared over 16% in the last 5 sessions on account of a spurt in volume.

On NSE till 9.41 a.m., today the stock's volume traded surged to 2 lakh shares with a trade value of ₹119.20 crore, indicating strong buying interest in the stock.

However, the exchange also sought clarification from Kaynes Technology concerning a spurt in volume of the stock in the recent few trading sessions. The company clarified it has not held any material information positive information/ event that is required to be disclosed according to SEBI’s regulation.

In last month's earning report for Q1FY25, the company posted a strong start of the year with revenue growth of ₹504 crore, up 70% YoY% while Profit after Tax (PAT) at ₹51 crore, up 104% YoY. EBITDA stood at ₹67, up 67.50% YoY with an EBITDA margin of 13%.

The stellar Q1 performance was driven by robust growth across all key verticals including Industrial & EV, Railways, Automotive and Aerospace, Outer-space & Strategic Electronics verticals with healthy profit margins. The stock has rallied over 195% in the last 12 months.

Gabriel India Ltd - The automotive OEM manufacturer’s share climbed to a 52-week high at ₹544, gaining over 6.32% in Friday’s morning session.

The stock has been witnessing upward moves as investors cheered Q1 earnings announced on August 14, with a remarkable 21% jump in net profit. In Q1FY25, the company reported a revenue of ₹864 crore, up 7% YoY and net profit grew to ₹51 crore up 21% YoY.

On the business front, the 2W &3W segment grew at 9.6% YoY; this growth was contributed by good sales performance in OLA and TVS. The passenger vehicles grew at 6.4%, growth contributed majorly by Utility Vehicles and Van Segment, with Maruti Suzuki, Mahindra & Mahindra and Skoda being top customers. In the last 12 months, the stock has surged over 131%.