Patanjali Foods, PCBL, and V-Mart Retail hit fresh 52-week high; here’s why

On Tuesday , over 44 stocks reached 52-week highs. The key indices, NIFTY50 traded at 24,232, up 0.73%; SENSEX at 79,315 jumped 0.71%; and Nifty Bank at 50,155, up 0.13%. The fear indicator, India VIX, decreased to 18.30.

The broad market indices traded in the green, with the Nifty Midcap 100 up 1.21% and the Nifty Smallcap 100 up 1.46%. Except for Nifty Financial Services, the majority other sectoral indexes traded green. Nifty IT, Metal, Oil & Gas, Media, and Realty all posted increases of more than 1.5%.

Top three stocks that hit a fresh 52-week high on Tuesday, August 6, 2024

Patanjali Foods Ltd

Baba Ramdev led Patanjali’s scrip clinched a 52-week high at ₹1797.3 after surging over 6.6% on Tuesday’s trade. The stock today witnessed a trade volume of 8.26 lakh shares with a trade value worth ₹145.75 crore on NSE till 10.25 a.m.

After the announcement that its board has approved a proposal to acquire the non-food business of its parent company, Patanjali Ayurved, for ₹1,100 crore, the stock has gained momentum with the share price up over 8% in the last one month period. This acquisition will consolidate the 'Patanjali' brand's FMCG product portfolio.

In Q1FY25’s earnings, the company reported a three-fold rise in its standalone net profit to ₹263 crore against ₹87.75 crore in the year-ago period. However, revenue fell to ₹7,173 crore from ₹7,767 crore in the corresponding period of the previous year. On the operating front, the margins improved from 2% in the corresponding period of the previous year to 6% in Q1FY25, therefore supporting the bottom line growth.

In the last 12 months, stocks have surged over 29% and currently trade with a market capitalisation of ₹63,711 crore.

PCBL Ltd

The Carbon Black producer’s stock price gained around 6.3% on Tuesday, hitting a fresh 52-week high at ₹408.9. In early trade of today around 10.45 a.m. on NSE the stock witnessed a heavy trade volume of 1.20 crore shares with a trade value of ₹482.49 crore, surging market capitalisation over ₹15,000 crore mark.

The stock has been buzzing on account of heavy volumes with share price up over 22% in the last 5 sessions. In the last one month stock has already rallied up 50%.

On August 1, PCBL informed that it acquired a speciality chemical company i.e. Aquapharm Chemicals Pvt. Ltd (ACPL).ACPL enjoys a strong market position in the business of manufacturing speciality water treatment solutions like phosphonates, chemicals used in the oil and gas sector, and polymers catering to reputed global customers across diverse end-markets. The acquisition shall lead to the diversification of the existing product portfolio of PCBL into high margin speciality chemicals business, with a wider geographical reach.

PCBL Limited, formerly known as Phillips Carbon Black Limited, has been a leader in the production of carbon black in India since 1960. They also specialised in customised high-performance products meeting ASTM standards, catering to global needs in the performance materials and specialty chemicals sector.

V-Mart Retail Ltd

India’s leading retail store chain’s stock price traded to a 52-week high at ₹3,733.5, skyrocketing to 14% in Tuesday's morning session.

Investors cheered the stock price post stellar performance Q1FY25 earnings, with profit after tax witnessing a growth of 155%, Earning Before Interest, Tax, Depreciation and Amortisation (EBITDA) up 89% and Revenue up 16% on a YoY basis. The company reported revenues of ₹786 crore in Q1, up 16% YoY and EBITDA increased by 89% to ₹99 crore and net profit remained at ₹12 crore, for the quarter.

The company said in an Exchange filing that the same-store sales (SSSG) grew by 11% YoY for the quarter-led footfall growth. The inventory as of period end stood at ₹671 crore, reduced by ₹54 crore (-7.5%) year-on-year (YoY) improving the working capital. The company remains focused on its store expansion plan and opened 7 new stores in Q1 FY25 and closed 3 underperforming stores, taking the total number of stores pan-India to 448 units as of quarter end.