NIFTY50 and SENSEX turn positive; here are three stocks that hit 52-week highs on Friday

On Friday, only 38 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 25,295, up 0.18%, and SENSEX at 82,790, up 0.36%. The Nifty Bank is trading at 52,101, up 0.49%, while the fear gauge India VIX rose to 13.46.

The broader market indices traded in positive territory, with the Nifty Midcap 100 up 0.14% and Nifty Smallcap 100 up 0.20%. The sectoral indices traded mixed, with Nifty PSU Bank up 1.15%, remaining the top gainer. Meanwhile, Nifty Realty remained the top loser with a 1.77% fall.

Info Edge (India) Ltd (Naukri)

India’s leading job portal’s scrip scaled to a fresh 52-week high of ₹8,282.95 after soaring up 1.97% on Friday’s trade with the market-cap reaching ₹1,07,600 crore mark.

The stock price witnessed a positive uptrend with the share price up over 10% in the last one month. The company’s management is optimistic about the growth betting on its flagship business, Naukri.com which recorded near double-digit growth in Q1, and management expects to sustain the growth rate in the coming period.

The company’s CFO in a recent media interaction stated that the company expects Naukri.com's growth rate to continue in coming quarters, while Jeevansathi and 99acres to achieve breakeven by the end of FY25.

Info Edge’s flagship business, Naukri, continues to dominate the recruitment business with a 70% share in the recruitment space.

Naukri’s growth is closely tied to the IT sector, which had stagnated towards the end of last year.

However in the recently published report ‘Naukri Jobspeak Index Report for September 2024’ a monthly Index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on Naukri.com. The Naukri JobSpeak Index reached 2,727 points in September, marking a 6% YoY growth, largely driven by a resurgent IT sector, which demonstrated 18% YoY growth in hiring activity and increased hiring activity in IT companies.

In 2024, so far Info Edge’s share price has surged over 60%.

Dr. Lal Path Labs Ltd

The diagnostic and healthcare services provider’s shares climbed to a 52-week high at ₹3,522, after surging 3%.

The stock has been trading in an upward momentum with the stock price up 7% in the last five trading sessions, while in the last 6 months, the stock price has surged 54%.

According to a media report, the diagnostic chain is planning a large acquisition to strengthen its presence in South India. The report suggests that if the asset is of a strategic fit the deal size could ₹3,000 - ₹4,000 crore. Further, the company’s CFO, Ved Prakash Goel in a recent interview stated, that with ₹1,000 crore in cash reserves, the company is ready to expand using both its balance sheet and equity.

Currently, only 6% of the company’s ₹2,227 crore revenue comes from the South, with most of its earnings coming from North India.

In Q1FY25, Dr Lal Path Labs reported a 29.1 % YoY increase in consolidated net profit ₹108 crore, and the company’s revenue from operations rose to ₹602 crore, showing an 11.3 % YoY growth.

Chaman Lal Setia Exports Ltd

The exporter company stock climbed to a 52-week high at ₹342.45 after soaring up 8.1%.

The scrip has witnessed strong buying interest in recent periods with share price up over 9% in the last five trading sessions and 35% in the last one month.

The uptrend in share price is a result of the Government's lifting the ban on the international export of non-basmati rice. Last Week the ban on international exports of non-basmati white rice was lifted by the government. However, a minimum export price (MEP) of $490 per tonne was set for export. The non-Basmati white rice was also exempted from export duty, while the levy on parboiled rice was cut to 10% from 20%.

According to the management, the company is expected to cross ₹1,500 crore in revenue in FY25 on account of higher crop size, while the company will maintain double-digit margins in FY25.

CLSEL is engaged in the milling and processing of raw and parboiled Basmati Rice. The company’s product portfolio includes Maharani Basmati rice, Parboiled (converted/muzza) Basmati rice, Raw (polished) Basmati rice and Basmati health rice.