Market News
3 min read | Updated on January 02, 2025, 12:31 IST
SUMMARY
Muthoot Finance shares gained around 1% to hit a 52-week high of ₹2,238 per share on the NSE, marking its fifth straight day of gains.
Stock list
Iron and steel manufacturing solution provider Lloyds Metals And Energy Ltd spurted by 6% to hit a 52-week high of ₹1,338.9 per share on NSE.
As many as 48 stocks traded at 52-week high levels on Thursday, January 2, as stock markets advanced for the second straight day.
Benchmark NIFTY rose by 213.25 points, or 0.9%, to 23,956.15 at 11:38 am following gains in financial and auto shares. BSE SENSEX rallied 681.91 points, or 0.87%, to trade at 79,189.32. The volatility index, India VIX, was down 1.1% to 14.35.
The stock market started the New Year on a high note and closed higher on the first trading session of 2025. Benchmark indices extended the gains for the second day aided by the rally in IT, auto, pharma, power and PSU bank stocks.
Lloyds Metals and Energy reported its highest-ever nine-month iron ore production, achieving 8.6 million tonnes and marking a 5 % year-on-year (YoY) increase in April-December 2024. Direct Reduced Iron (DRI) production also reached 238,000 tonnes, reflecting a 22% YoY growth. The DRI production has been witnessing strong traction, with December registering as the best production ever.
More than seven lakh shares of the company changed hands on the bourse.
Experts see more potential gains in the stock which has moved up around 34% in 2024.
Muthoot Finance shares gained around 1% to hit a fresh 52-week high of ₹2,238 per share on the NSE, marking its fifth straight day of gains. Shares of the company have been on a rise since December 26, spurting by nearly 10%. The company on December 27 announced fund infusion of around ₹500 crore in Muthoot Money Limited, which is a wholly-owned subsidiary of Muthoot Finance Ltd.
Other stocks that hit 52-week high: A2Z Infra Engineering Ltd, Allied Blenders and Distillers Ltd, Anant Raj Ltd, ARSS Infrastructure Projects Ltd, Asian Hotels (North) Ltd, Bhartiya International Ltd, HVAX Technologies Ltd, RNFI Services Ltd, Eicher Motors Ltd, Rajputana Biodiesel, Blue Coast Hotels Ltd, GHCL Ltd and Lemon Tree Hotels Ltd, Siddhika Coat Ltd, Sinclairs Hotel Ltd, Tilaknagar Industries Ltd, Unimech Aerospace Ltd, United Spirits Ltd, Ventive Hospital Ltd, Visa Steel Ltd and Welspun Corp Ltd, among others.
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