Market extends gains with NIFTY50 trading above 25,000 mark; these three stocks hit a fresh 52-week high on Thursday

On Thursday, 63 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 25,094, up 0.45%, and SENSEX at 81,857, up 0.48%. The Nifty Bank was trading at 51,281, up 0.54%, while the fear gauge India VIX declined below 14 levels.

The broader market indices traded in positive territory, with the Nifty Midcap 100 up 0.60% and Nifty Smallcap 100 up 0.67%. The sectoral indices traded mixed, with Nifty Energy up 1.25%, remaining the top gainer. Meanwhile, Nifty Pharma was the top loser with a 0.41% fall.

Top three stocks that hit a fresh 52-week high on Thursday, October 10, 2024

Hitachi Energy India Ltd

The company serves utility and industrial customers, offering a comprehensive range of engineering, products, solutions, and services in power technology.

On Thursday, the stock surged 8% from the previous close, reaching a 52-week high of ₹15,650. As of 11:26 a.m., it was trading at ₹15,235, up by 5.21%.

Recently, the company announced plans to invest around $250 million (approximately ₹2,000 crore) in its Indian operations over the next five years. This investment will be directed towards manufacturing, engineering, R&D, and partnerships globally.

In Q1 FY25, the company reported revenue of ₹1,327 crore, compared to ₹1,040 crore in Q1 FY24, reflecting a growth of 27.6% YoY. The PAT for Q1 FY25 stood at ₹10 crore, up from ₹2 crore in Q1 FY24.

Over the past month, the company has significantly outperformed the market, delivering a return of 34.35%. Its current market capitalisation is ₹65,229 crore.

Gujarat Fluorochemicals Ltd

The company is engaged in the production of fluoro-polymers, fluoro-specialities, chemicals, and refrigerants in India. It ranks among the top five global players in the fluoropolymers market, with exports to Europe, the Americas, Japan, and Asia.

On Thursday, the stock surged 7.5% from the previous close, reaching a 52-week high of ₹4,695. As of 11:14 a.m., it was trading at ₹4,668.55, up by 6.96%.

The company is focused on the electric vehicle (EV) and energy storage system (ESS) sectors, positioning itself in the battery materials segment. Key growth drivers include backward integration, independence from Chinese supply chains, and early-mover advantage.

In Q1 FY25, the company reported consolidated revenue of ₹1,176 crore, compared to ₹1,209 crore in Q1 FY24, reflecting a decline of 2.73% YoY. The PAT for Q1 FY25 stood at ₹149 crore, down from ₹269 crore in Q1 FY24.

Over the past month, the company has outperformed the market, delivering a return of 18.46%. Its current market capitalisation is ₹51,520 crore.

HCL Technologies Ltd

On Thursday, the stock surged 1.67% from the previous close, reaching a 52-week high of ₹1,839.95. As of 11:00 a.m., it was trading at ₹1,830.15, up by 1.13%. The stock is in focus ahead of the Q2 FY25 earnings announcement, which will be made on October 14, 2024 (Monday).

HCL Technologies has a well-diversified portfolio with significant exposure to healthcare and manufacturing. It has also partnered and invested in platforms that will enhance its revenue as the demand for GenAI adoption increases. In Q1 FY25, the company reported consolidated revenue of ₹28,057 crore, compared to ₹26,296 crore in Q1 FY24, reflecting a growth of 6.70% YoY. The PAT for Q1 FY25 stood at ₹4,259 crore (including other income of ₹1,103 crore), up from ₹3,531 crore in Q1 FY24.

Over the past month, the company has outperformed the market, delivering a return of 4.60%. Its current market capitalisation is ₹4,95,122 crore.