Procter & Gamble Health, Aditya Birla AMC, and Paradeep Phosphates lead the surge as 59 stocks hit a 52-week high today

On Tuesday, 59 stocks reached 52-week highs even as the frontline indices traded in the red. The NIFTY50 was down by 0.10%, trading at 23,970, while the SENSEX declined by 0.10%, trading at 78,704 in the morning session. Nifty Bank also dipped, reaching 51,170, down 0.08%, and India's volatility index, the India VIX, increased by 0.78% to hover near the 17-mark.However, in the closing session, markets recovered from all losses and closed nearly 1% higher across the board.

Broader market indices remained in negative territory, with the Nifty Midcap 100 down 0.52% and the Nifty Smallcap 100 declining by 0.43%. Sectoral indices showed mixed performance: Nifty Metal led the gains with a 1.55% rise, while Nifty MID SELECT led the declines, falling about 0.74%.

Here’s a look at three stocks that reached 52-week highs on Tuesday, November 5, 2024:

Procter & Gamble Health Ltd

The company (formerly Procter & Gamble, previously Merck) manufactures and markets pharmaceuticals and chemicals.

The stock surged 9% from the previous close, reaching a 52-week high of ₹5,742.40.

The price movement can be attributed to strong Q2 results. The company expanded its operating margin quarter-over-quarter to 36% in Q2 FY25 (compared to 17% in Q1 FY25). This bottom-line growth was driven by lower expenses and higher revenues, enhancing operating efficiencies.

In Q2 FY25, revenue rose to ₹313 crore from ₹305 crore in Q2 FY24, marking a 2.78% YoY increase, and PAT grew to ₹82 crore from ₹66 crore in Q2 FY24.

Over the past month, the stock delivered a 3.19% market return, with a current market capitalisation of ₹9,404 crore.

Aditya Birla Sun Life AMC Ltd

The company, a joint venture between Aditya Birla Capital Ltd and Sun Life AMC, provides mutual fund services, portfolio management, and offshore and real estate offerings.

On Tuesday, the stock surged 5% from the previous close, reaching a 52-week high of ₹831.90.

The company recently announced plans to launch three new funds, identifying significant market opportunities due to rising interest from ultra-high-net-worth individuals (UHNIs) and family offices. It anticipates that the private credit segment in India will grow to $3.5 trillion by 2028.

In Q2 FY25, revenue climbed to ₹424 crore from ₹335 crore in Q2 FY24, representing a 26.63% YoY increase, and PAT increased to ₹242 crore from ₹178 crore in Q2 FY24.

The stock delivered a 14.13% market return over the past month, with a current market capitalization of ₹23,685 crore.

Paradeep Phosphates Ltd

On Tuesday, the stock surged 4% from the previous close, reaching a 52-week high of ₹107.98.

Recently, the company approved a brownfield expansion of its phosphoric acid plant-II project, including the installation of an evaporator, with a total estimated capital expenditure of ₹250 crore.

In Q2 FY25, revenue rose to ₹3,844 crore from ₹3,683 crore in Q2 FY24, marking a 4.37% YoY increase, while PAT grew to ₹227 crore from ₹89 crore in Q2 FY24.

Over the past month, the stock delivered a negative return of 2.76%, with a current market capitalization of ₹8,723 crore.