Paytm to Karur Vysya Bank: These three stocks rally up to 5% to hit 52-week high; here’s why

As many as 46 securities hit their 52-week high on the National Stock Exchange of India (NSE) on Friday, November 29, as the broader markets traded in the green.

As of 1:30 pm, the NIFTY 50 index trades at 24,143, up 229 points, or 0.96%. Meanwhile, the BSE SENSEX rose 782 points, or 0.99%, to 79,826.

The volatility index, or India VIX, was down 0.82% to 15.08. In the broader market, NIFTY100, NIFTY Midcap 100, the NIFTY Smallcap 100 and NIFTY 500 were trading with gains of up to 0.8%.

One97 Communications (52-week high: ₹952)

Earlier this week, Paytm announced that it has enabled its users to make UPI payments at various international locations. Indian travellers can now use Paytm app to make cashless payments at destinations where UPI is accepted, including popular spots in the UAE, Sri Lanka, Singapore, France, Mauritius, Bhutan, and Nepal. Users can pay for shopping, dining, and local experiences using UPI through their Paytm app.

Last month, Paytm had reported a net profit of ₹928 crore for the second quarter ended September (Q2 FY25), its first ever since listing in 2021. However, this was primarily driven by a ₹1,345-crore gain from the sale of its ticketing business to food delivery company Zomato.

Mcleod Russel India Ltd (52-week high: ₹37.99)

The share price has been showing a positive trend after the company reported strong financial performance for the second quarter of FY25. McLeod Russel reported a 38.25% jump in net profit to ₹84.54 crore on a consolidated basis for Q2 FY25, compared with ₹61.15 crore a year ago, because of higher tea prices. Total income rose 23.2% to ₹453.48 crore during the quarter, compared with ₹367.94 crore in the same period of FY24.

Notably, the company returned to the black with a profit of ₹63.9 crore on a six-month basis, compared with a loss of ₹11.5 crore in H1 FY24.

Karur Vysya Bank (52-week high: ₹245)

Private sector lender Karur Vysya Bank was in the news recently for its aggressive expansion. Earlier this month, the bank inaugurated its 850th branch in Chennai. The 108-year-old bank also said that its overall business has crossed ₹1.75 lakh crore.

Karur Vysya Bank had also reported a 25.1% rise in its net profit for the July-September quarter at ₹473.60 crore. Total income during the quarter under review jumped to ₹2,856 crore from ₹2,336 crore in the same quarter of the last financial year.