NIFTY50 trades at record high levels of 25,692; here are three stocks that hit 52-week highs on Friday

On Friday, over 76 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 25,670, up 1%, and SENSEX at 84,066, up 1.06%. The Nifty Bank is trading at 53,514, up 0.90%, while the fear gauge India VIX spiked to 12.56.

The broader market indices traded in positive territory, with the Nifty Midcap 100 up 0.76% and Nifty Smallcap 100 up 0.84%. All the sectoral indices traded green, except Nifty Pharma which traded muted. Meanwhile, Nifty Metal remained the top gainer with a 1.8% rise.

Top three stocks that hit a fresh 52-week high on Friday, September 20, 2024

JSW Steel

India’s leading steelmaker scrip scaled to a fresh 52-week high of ₹984.55 after soaring up 3.8% on Friday’s trade with the market-cap reaching ₹2.4 lakh crore mark.

The stock price witnessed a positive uptrend as investors remained optimistic about metal stocks, citing resilient domestic fundamentals and easing input costs as key drivers for the sector.

In Q1FY25, the company reported a consolidated revenue of ₹42,943 crore, down 1.73% YoY. The net profit stood at ₹867 crore dropping 64% YoY, the bottom line was impacted mainly due to a drop in margin from 17% to 13% YoY.

Further, in the latest development, the U.S. Department of Energy (DOE) has recognised JSW Steel USA for achieving its energy savings goal as a partner in the Better Plants Challenge. JSW Steel USA has achieved energy savings of 25% through greater efficiency efforts across its portfolio.

In 2024, so far the Nifty Metal index has surged over 15.6%, while the JSW Steel stock underperformed with 11.6 gains on a YTD basis.

Jubilant Foodworks Ltd

The operator of Domino’s in India, the shares of the company climbed to a 52-week high at ₹707, after surging 1.66%.

The stock has been trading in an upward momentum this month with the stock price up 12%, while in the last 6 months, the stock price has surged 58%.

With the shift in Indian consumers towards fast food such as pizza, along with the company focusing on scaling up in tier 2 and tier 3 cities to cater to the demand, the company has sustained revenue growth.

In Q1FY25, the company achieved a revenue increase of 9.9% YoY, reaching ₹1,440 crore. However, the EBITDA margins declined by 178 basis points YoY to 19.3%. The profit after tax has grown to ₹52 crore, up 79% YoY.

The company expanded its operations by adding 66 stores across various brands and markets during Q1, bringing the total store count to 3,057. The company plans to add 180 stores of Domino’s and 20–25 stores of Hong’s Kitchen in India.

Jubilant FoodWorks is part of the Jubilant Bhartia Group. It is India’s leading food service provider engaged in retail sales of food through two strong international brands, Domino’s Pizza and Dunkin’ Donuts addressing different food market segments.

Zomato Ltd

The food delivery aggregator’s stock climbed to a 52-week high at ₹289.65 after soaring up 3.87% with market-cap surpassing ₹2.55 lakh crore mark.

Zomato’s stock witnessed strong buying interest on the NSE in the morning session. The stock’s trade volume reached 3.86 crore with a trade value of ₹1,109.08 crore.

Zomato has also been under the spotlight, for its impressive brand value with double brand value, reaching a whopping $3.5 billion. According to the 'Kantar BrandZ Most Valuable Indian Brands' report, Zomato is the fastest riser, boasting a 100% YoY growth in brand value, due to relentless innovation and expansion into quick commerce.

Along with that, the brand doubled its value on the back of reducing friction for customers as well as building a strong desire among consumers for the brand.

Zomato’s stock in 2024, so far, has rallied over 132%, while in the last 12 months stock delivered a stellar return of 189%.