SENSEX and NIFTY50 hold above 24,800 and 81,000 level respectively; here are three stocks that hit 52-week highs on Friday

On Friday, over 95 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,845, up 0.14%, and SENSEX at 81,148, up 0.12%. Nifty Bank is trading at 51,048, up 0.08%, while the fear gauge India VIX fell to 12.91.

The broader market indices traded flat, with Nifty Midcap 100 marginally down 0.09% and Nifty Smallcap 100 marginally down to 0.04%. All the sectoral indices traded mixed with Nifty’s Auto up 1.17%, being the top gainer and Nifty’s Realty down 1.09%, being the top loser.

Top three stocks that hit a fresh 52-week high on Friday, August 23, 2024

Bajaj Auto Ltd - The homegrown 2-wheeler and 3-wheeler maker’s scrip scaled to a fresh 52-week high of ₹10,185.95 after soaring up 2.74% on Friday’s trade.

The stock witnessed buying interest after the reports suggested that the automaker had received approval for 13 vehicles under the production-linked incentives (PLI) scheme.

According to the reports, Bajaj Auto had sought PLI approval for 13 of its vehicles, including both two and three-wheelers. Bajaj Auto is the only company to have received PLI approval for all the products it had sought incentives for.

In Q1FY25, the company’s standalone revenue stood at ₹11,928 crore up 16% YoY, EBITDA at ₹2,415 crore, up 24%, EBITDA margin improved to 20.2%, up 130 bps and profit after tax jumped 19% YoY to ₹1,988 crore. The two-wheeler volume saw an uptick of 7% YoY growth and commercial vehicles witnessed a 9% YoY rise during Q1.

Bajaj Auto’s strengths remain its robust free cash flow to profit after tax conversion and strategic investments in electric vehicles and new power-train technologies. As of June 30, 2024, the surplus cash stood at ₹16,764 crore, which has the potential to fuel future growth investments.

In the last 6 months, the stock surged 20%, while in the 12 months, the stock has jumped 118%.

TVS Motors Ltd - Another 2-wheeler and 3-wheeler manufacturer stock soared 4.13% on Friday, peaking at a 52-week high at ₹2,818.

The stock is trading with positive momentum up over 10% in the last one month. The surge in buying interest is on account of the launch of the all-new Jupiter 110 scooter featuring a next-generation engine and first-in-segment and futuristic features.

TVS launched the all-new TVS Jupiter 110, Jupiter has been the anchor of the TVS Motor scooter portfolio for the last decade. Over time, the scooter has reached 6.5 million households, the new TVS Jupiter comes with many first-in-segment features and is expected to further build the company's position in the two-wheeler market.

TVS's growth prospectus remains optimistic following the company’s strong performance in Q1. In Q1FY25 the company revenue grew by 16% YoY at ₹8,376 crore, Operating EBITDA grew by 26% YoY at ₹960 crore, and operating EBITDA margin improved by 90 bps at 11.5% as against 10.6% during Q1. The profit before tax grew by 28% YoY to ₹783 crore.

CDSL Ltd - The depositary’s share climbed to a 52-week high at ₹1,664.85, as it traded ex-bonus, gaining 14 % over its adjusted closing price of ₹1,449 of the previous session i.e. Thursday.

CDSL shares traded ex-bonus in today's trading session as the bonus issue by the company of 1:1 shares took effect today i.e. Friday, August 23, 2024. The previous close of the share price was at ₹2,898.10, therefore the adjusted price for the bonus of 1:1( 1 bonus share for every one share hold) came out as ₹1449.05 per share.

As the shares traded ex-bonus CDSL’s counter witnessed a spurt in volume as share price per share became lucrative post-bonus issue. On NSE till 10.00 a.m., the share trade volume surged to 35.78 lakh shares with a trade value of ₹543.13 crore, taking the company’s market cap to ₹31,480 crore.

CDSL has continued to gain market share in terms of the total number of demat accounts. The total number of demat accounts increased to 167 million in July 2024. It has a 77% market share in terms of demat accounts and its market share in incremental accounts has increased to 91% in July from 90% in June.