NIFTY50 slips below 26,000 mark, fear gauge VIX spikes nearly 7%; here are three stocks that hit a fresh 52-week high today

On Monday, over 142 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at a 25,951 level, down 0.87%, and SENSEX at 84,813 level, down 0.89%. The Nifty Bank is at the 53,221 mark, down 1.14%, while the fear gauge India VIX spiked to 12.8 level up 6.98%.

The broader market indices traded in negative terrain, with Nifty Midcap 100 down 0.55% and Nifty Smallcap 100 down 0.39%. The major sectoral indices traded in red except for Nifty Metal up 1.5%, while Nifty Consumer Durable and Media traded almost flat.

KEC International Ltd

The infrastructure company’s share price traded to a 52-week high at ₹1,054 after surging over 2.82% in Monday’s session. It also surpassed the company's market cap mark of ₹28,000 crore.

The share price has increased in the last five sessions, soaring 8% after the company launched a Qualified Institutional Placement (QIP) of equity shares last week to raise ₹4,500 crore.

The recently bagged orders of ₹1,003 crore on September 22 are across various businesses which included the railways business winning an order for a tunnel ventilation system and associated works in India, an order in the industrial segment for civil and mechanical works for a steel plant in India and the cable business receiving orders for the supply of various types of cables in India and overseas.

Shares of KEC International have so far surged 72% on a year-to-date basis in 2024.

Welspun Corp Ltd

The pipe manufacturer’s scrip traded 2.09% higher on Monday, peaking at a 52-week high at ₹756.

The stock witnessed buying interest as the company announced a new order win. The company in exchange filing stated that it received a prestigious order from the Middle East for a supply of Coated LSAW Pipes and Bends for sour service. With this, the cumulative value of the line pipe orders received both in India and USA stands at ₹1,348 crore. Execution of these orders will be during FY25 and FY26, therefore the company’s coming quarterly earnings will be closely tracked for topline growth.

In Q1FY25, the company's consolidated revenue witnessed a 22.9% drop on a YoY basis to ₹3,137 crore.

In 2024, Welspun Corp shares rallied 31% on a year-to-date basis.

Vedanta Ltd

The metal and mining company’s stock surged to a 52-week high of ₹523.65, rising 2.08% during Monday's morning session.

The stock witnessed a strong buying interest as trade volume surged to 75.99 lakh shares with a trade value worth ₹393.81 crore.

The stock is witnessing investors' interest due to the company's whopping dividend payouts. The company is planning for its fourth interim dividend of this year. Through an exchange filing, it has informed that it has scheduled a board meeting to consider and approve the fourth interim dividend on Tuesday, October 08, 2024. If the dividend is approved, the record date is fixed as October 16, 2024.