NIFTY50 slips below the 25,000 mark; here are three stocks that hit 52-week highs on Friday

On Friday at 10.58 a.m., over 116 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,934, down 0.84%, and SENSEX at 81,451, down 0.91%. The Nifty Bank is trading at 50,990, down 0.94%, while the fear gauge India VIX spiked to 14.89.

The broader market indices traded red, with Nifty Midcap 100 down 0.93% and Nifty Smallcap 100 down 0.57%. All the sectoral indices traded red, with Nifty Oil & Gas down 1.71%, being the top loser.

Top three stocks that hit a fresh 52-week high on Friday, September 6, 2024

Hindustan Unilever Ltd (HUL) - The FMCG major’s scrip scaled to a fresh 52-week high of ₹2,866.45 after soaring up 0.99% on Friday’s trade with market-cap reaching ₹6.73 lakh crore mark.

In a positive development, the High Court granted relief to HUL in a plea against Abbott over a health drink advertisement. The Bombay High Court yesterday granted temporary relief to FMCG major Hindustan Unilever in a plea seeking an injunction against Abbott Laboratories for allegedly denigrating its product, Horlicks Diabetes Plus.

According to HUL, the Horlicks Diabetes Plus has been designed for blood sugar management and is one of India’s highest fibre-nutritional drinks and it claims to have a valid trademark for the product. HUL, however, alleged that it came across an advertisement for Abbott’s product, Ensure Diabetes Care, in August 2024 in which HUL's product (a blurred image) was shrugged and replaced with Abbott’s product, making Horlicks Diabetes Plus seem like an inferior or useless product.

Though HUL’s legal representative immediately reached out to Abbott and sought clarity on the issue, it failed to get any substantial response and then HUL proceeded with legal action.

VST Industries Ltd - The Cigarette and Tobacco products maker’s share climbed to a 52-week high at ₹486.15, as it traded ex-bonus, eventually locking in upper circuit limit of 20% over its adjusted closing price of ₹405.15 of the previous session i.e. Thursday.

VST Industries shares traded ex-bonus in today's trading session as the bonus issue by the company of 10:1 shares (10 bonus shares for every one share hold) took effect today which is the record date set by the company i.e. Friday, September 6, 2024.

As the shares traded ex-bonus CDSL’s counter witnessed a strong buying interest as share price per share became a lucrative post-bonus issue, resulting in no seller for the stock. This is the first bonus share issue that VST Industries has announced.

During Q1, consolidated revenue dropped to ₹321 crore, down 3.60% YoY, net profit declined to ₹54 crore, a drop of 35% YoY and operating margin fell to 23% against 32% in the corresponding quarter last year.

The record date is the specific day a company identifies which shareholders are eligible for benefits from corporate actions such as dividends, bonuses, stock splits, or share buybacks.

KEC International Ltd - The flagship company of RPG group’s stock climbed to a 52-week high at ₹1,040 after soaring up 5.29%.

The stock price witnessed a sharp spike, as investors cheered the company bagging new orders worth ₹1,423 crore.

The company announced that it secured new orders of ₹1,423 crore for the Design, Supply and Installation of 380 kV Transmission Lines in Saudi Arabia. With these orders, company order intake stands at over ₹11,300 crore so far in 2024, an impressive growth of 75% compared to last year.

On the NSE, stock trade volume reached 39.40 lakh shares, with a trade value of ₹401.38 crore, until 10.54 a.m. on Friday.

So far in 2024 share price has risen nearly 66% so far and surged 48% in the last 1 year.

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of Power Transmission and Distribution, Civil, Railways, Urban Infrastructure, Renewables, Oil & Gas Pipelines, and Cables.