JSW Energy, Shriram Finance, RVNL and Whirlpool of India hit 52-week high

With the GST council meeting now over, market participants are eagerly waiting for new developments. These could come from the first session of the 18th Lok Sabha, starting on June 24, where newly elected members will take their oaths and a new speaker of the House will be elected. The session will conclude on July 3.

Additionally, market participants are closely watching the progress of the monsoon. Food inflation in May was at 8.7%, and a healthy crop outlook is crucial for controlling food inflation.

At 11.30 am on Monday, the NIFTY50 traded above 23,500 and SENSEX was up marginally trading at 77,235.

4 stocks that hit a fresh 52-week high on June 24, 2024.

The company further added that after this capacity award, the total locked-in capacity increased to 13.6 GW. It expects to have an installed generation capacity of 9.8 GW by CY24, up from 7.3 GW currently. The company aims to reach 20 GW generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving Carbon Neutrality by 2050.

In the last 12 months stock price has surged exponentially with 168% bumper returns.

On June 20, 2024 exchange filing informed that the Allotment Committee - NCDs of the company, approved and allotted Subordinated unsecured rated listed redeemable, taxable non-convertible debentures (NCDs) on a Private placement basis.

In April this year, the BOD of the company approved raising funds through the issue of debt securities. The issue size would be around ₹100 crore and the Proceeds of the issue will be utilized for onward lending to grow the asset book, financing vehicles such as commercial vehicles, two-wheeler vehicles, cars, home loans, gold loans, personal and small business loans, refinancing of existing debt, other general purposes of the company, the company said in the exchange filing.

July 23, 2024 is the record date for the final dividend of ₹15.

The company stated in an exchange filing that It has emerged as the Lowest Bidder (L1) from SER HQ-ELECTRICAL/SOUTH EASTERN RAILWAY for “Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System. The order size of the contract is estimated at ₹191.54 crore.

Earlier RVNL stated that it has emerged as the lowest bidder from East Coast Railway for the “Provision of Automatic Block Signaling system with dual MSDAC and alteration in existing El/Pl/RRI stations with order size of the contract estimated as ₹160.08 crore.

The stock price has soared a whopping 238% in the last 12 months.

The company has recently entered into a joint marketing agreement with Hindustan Unilever Ltd (HUL). In an exchange filing it intimated that it had joined hands with a renowned brand in the washing machine segment in India to transform and enhance the laundry experience for consumers in India.

The profit margin of the company has remained stagnant in FY24 at 6% corresponding to FY23. The good thing was an improvement in margins to 8% in Q4FY24. The stock has gained 29% in the past 12 months even after a stake sale by the promoter of 24% last February.