NLC India, GAIL (India), and Hatsun Agro hit fresh 52-week high; here’s why

The broad market indices remained in green with Nifty Midcap 100 up 0.38% and Nifty Smallcap 100 up 0.66%. Majority of the sectoral indices also traded in green with Nifty Realty up 1.87% and Nifty Metal up 0.76%.

Top three stocks that hit a fresh 52-week high on Tuesday, July 16, 2024

NLC India Ltd- The Navratna PSU scrip clinched a 52-week high at ₹307 after surging over 3.11% on Tuesday’s trade.

This is the second commercial coal mine block won by NLC India after North Dhadu Coal Block (Western Part) and the company is committed to its capacity addition in line with its vision of achieving more than 100 MTPA (Metric Tonnes Per Annum) by 2030 from the present 50 MTPA. Coal produced from this coal block will help in addressing the energy security of the country indigenously. It also paves the way for contemplating alternative means of energy production from coal like gasification thus meeting sustainability requirements, the press release further added.

The coal mine is a big deal for NLC India, as the mine could yield 30 million tonnes of coal annually. Last year, the company’s total coal and lignite production was 36.32 mt (metric tonnes).

The current revenue break up of the company stands at 41.8% from lignite mining and 58.2% from power generation. In FY24 the company reported consolidated revenue of ₹12,999 crore and net profit of ₹1,868 crore.

The GAIL’s stock price is witnessing a positive bias as the company is expected to deliver strong results in Q1FY25. Experts are anticipating a strong quarter for GAIL but believe margins for city gas distributors (CGDs) could be impacted.

However recent news in the mainstream media regarding GAIL’s proposed investment in Yamuna City of ₹700 crore received market attention. However, today the company clarified in the statement that, considering the strategic advantage of having an in-house R&D centre, GAIL has in-principally approved the setting - up of the R&D Centre. But, no specific investment approval has yet been accorded.

Request letter(s) has been sent to various competent authorities of NCR region (authorized to allot land for the purpose) in January 2024 for allocation of suitable Institutional Land area for setting - up of GAIL 's R&D Centre. However, so far none of the authorities have communicated on the allocation of the Institutional land to GAIL.

In FY24, the company reported a decline in topline by 8.5% against 77% growth in the bottom line on a YoY basis. The company reported a higher net profit of ₹9,903 crore mainly due to a rise in operating margin from 5% in FY23 to 11% in FY24.

Hatsun Agro Ltd - India’s leading private sector dairy stock traded to a 52-week high at ₹1,400, soaring over 18% in Tuesday's morning session.

The stock gained positive momentum as the company declared Q1FY25 results with profit increasing 63% on a YoY basis to ₹131 crore and operating income at ₹330 crore.

The Chennai-based dairy company reported a net profit of ₹131 crore in Q1FY25, as compared to ₹80 crore in the last year for the corresponding period. The consolidated revenue stood at ₹2,375 crore up 10.41% YoY, the operating margin improved to 14% taking operating income at ₹330 crore. The company incurred ₹46 crore interest cost during the Q1FY25.

The board of the dairy company declared an interim dividend of ₹6 per equity share on the fully paid-up equity shares of the face value of ₹1 per share. The company is principally engaged in the business of processing and marketing of milk, milk products and ice cream. The stock has surged over 30% in the last 12 months and around 16% in just the last one month.

July 24, 2024, is the record date for the company's interim dividend of ₹6. The interim dividend will be paid on or before August 14, 2024. The company said it would hold a one-on-one meeting with analysts on Friday, July 19th, 2024.

Record date in simple terms means the day on which the company checks its records to identify shareholders of the company to pay the dividend announced by the company.