Lupin, ITI hit a 52-week high as markets recover from morning losses; Tanla Platforms at 52-week low

Only 23 securities hit their 52-week high levels, while 65 hit their 52-week lows on the National Stock Exchange of India (NSE) on Tuesday, December 31, as broader markets traded in the red on the last day of the calendar year 2024.

At 1:00 pm, the NIFTY 50 index traded at 23,590, down 54 points, or 0.22%. The BSE SENSEX, meanwhile, dropped 259 points, or 0.33%, to trade at 77,989.

The volatility index, or India VIX, was up 3.58% to 14.47. Among sectoral indices, the Nifty IT was the biggest loser (down 1.8%), while the Nifty Pharma was the top gainer (up 1%).

Lupin Ltd (52-week high: ₹2,373.9)

Notably, Lupin shares have jumped more than 9% in the past five trading sessions and are up nearly 80% in the past one year.

ITI Ltd (52-week high: ₹413.85)

The rally in the shares of telecom turnkey solutions provider ITI is on the back of expectations of strong quarterly results for the December 2024 quarter. ITI’s working capital requirements have significantly reduced from 196 to 15.1 days. For the quarter that ended September, the company reported a consolidated revenue from operations of ₹1,016.2 crore compared to ₹246.47 crore in the year-ago period. It had also reduced losses to ₹70.1 crore in the quarter from ₹125.81 crore in Q2FY24.

Motherson Sumi Wiring India (52-week low: ₹57.5)

Wiring harness maker Motherson Sumi Wiring India posted a flat performance in the September quarter, with net profit rising only 2.6% year-on-year to ₹152 crore and revenue from operations jumping 10.3% to ₹2,326 crore.

Tanla Platforms (52-week low: ₹660.25)