Just Dial, Marico and India Cements clinch fresh 52-week high; here’s why

The broad market indices traded red, with Nifty Midcap 100 down 1.38% and Nifty Smallcap 100 down 1.36%. The sectoral indices traded mixed, with Nifty’s Media, Realty, Consumer Durable, and Auto remaining in red against Nifty IT & FMCG, up 1.08% and 0.69%, respectively, trading in greens.

Top three stocks that hit a fresh 52-week high on Thursday, July 18, 2024

Just Dial Ltd

India’s leading local search engine company’s stock price traded to a 52-week high at ₹1,220 after surging over 18% on Thursday’s session.

The stock price spiked on July 16 as the company announced its quarterly results for Q1FY25, with the highest-ever revenue and net profit growth. The company reported revenue growth of 13.6% YoY to ₹280.6 crore and net profit growth of 69.3% YoY to ₹141.2 crore.

On the operating front, the EBITDA stood at ₹80.6 crore, with a healthy EBITDA margin of 28.7% and growth of 13.89% YoY and 2.61% QoQ basis in EBITDA, led by top-line growth and cost efficiencies, both on employee costs and other expenses. In terms of business highlights, Total Traffic (Unique Visitors) for the quarter stood at 181.3 million, up 5.7% YoY and 6.0% QoQ. The company stated in the press release that 85.3% of traffic originated on mobile platforms, 11.3% on desktop/PC, and 3.4% on our voice platform.

The company’s stock price has surged over 40% in the last six months and 50% in the last 12 months.

Marico Ltd

The FMCG veteran and parachute oil maker scrip soared 2.2% on Thursday, peaking at a 52-week high at ₹682. In the early deal on NSE till 10.25 a.m., the stock witnessed over 18.35 lakh trade volume with a traded value of ₹124.34 crore.

The stock is witnessing a positive bias, with stock price in the last month surging 9% and around 30% in the last six months. The company is expected to benefit in Q1FY25 from demand recovery in rural areas supported by election sops in April & May and the timely arrival of monsoon in June, anticipating a positive impact on quarterly earnings.

In the preceding period of Q4FY24, the company reported consolidated revenue of ₹2,293 crore down 0.65 % YoY, Net profit stood at ₹318 crore, up 5.3% YoY. While the shareholding pattern revealed, Promoters held 59.35% stake, while FIIs held 25.54% and DIIs had 3.12% as on March 31, 2024.

The company has informed the Exchange about notice of shareholders meeting for the Annual General Meeting to be held on August 9, 2024

The India Cement Ltd

The cement maker’s stock climbed to a 52-week high at ₹343.65, soaring over 6.3% in Thursday's morning session. Since last month, the stock has already surged over 54%.

The stock has been in the news after India’s leading cement manufacturer invested 23% in the company's shareholding last month. However, after the recent rally, the expert remains bullish on the stock, supported by growth in volumes and an increase in capacity utilisation.

The Chennai-headquartered cement manufacturing company has a capacity of 14.45 MTPA and eight cement plants located in Tamil Nadu, Andhra Pradesh, Telangana, and Rajasthan. In FY24, the company reported net loss of ₹227 crore against revenue of ₹5,112 crore.

At around 10.55 am on Thursday, stock witnessed a trade volume of 2.34 crore with a trade value of ₹791.66 crore. The current market capitalisation of the company stands at ₹10,552 crore.