Stock market live: ICICI Bank, Bajaj Finance and JSW Steel hit 52-week high today

NIFTY50 and SENSEX rally for the sixth consecutive session on Monday. As of 1:00 pm, benchmark NIFTY50 was trading 283, or 1.21%, higher to 23,633. The BSE SENSEX also jumped over 950 points, or 1.26%, to 77,871.

Upbeat global market cues, ease in the FIIs selling and positive optimism ahead of the Q4 and FY25 earnings likely to have revived market sentiments in the past one week. As many as 49 stocks hit their 52-week highs on the National Stock Exchange of India (NSE) on Monday.

India’s volatility index, or India VIX, shot up 8.46% to 13.64 on Monday. All the sectoral indices were trading in the green, with the NIFTY PSU Bank and NIFTY Realty being the top gainers, up more than 2% each.

ICICI Bank (52-week high: ₹1,373)

Over the weekend, ICICI Bank announced the date and timing of its results release for the March quarter (Q4FY25). ICICI Bank said that the meeting of its board of directors of the company is scheduled on Saturday, April 19, to consider and approve the audited financial results for the quarter and year ending March 31, 2025. Along with the Q4 results, the board of directors are likely to consider recommendation of dividend for FY25.

JSW Steel (52-wek high: ₹1,072)

Steel stocks have been rallying for the past one week as the Directorate General of Trade Remedies (DGTR) last week recommended a provisional safeguard duty of 12% on steel imports. The duty on flat steel products will be levied for 200 days. The move was triggered by a complaint from the Indian Steel Association over the sudden surge in imports of non-alloy and alloy steel flat products in December 2024, following which an investigation was ordered by DGTR.

Bajaj Finance (52-week high: ₹9,111)

Analysts have largely been positive about the stock after the resolution of the succession overhang at the company. Bajaj Finance last week announced that Anup Kumar Saha, who currently serves as the deputy managing director, will assume the role of managing director starting April 1, 2025. His term will run until March 31, 2028. Rajeev Jain, who has led the company for several years, will be re-designated as vice chairman for three years.

Swaraj Engines (52-week high: ₹3,825)

Swaraj Engines manufactures and sells diesel engines, diesel engine components, and spare parts for tractors in India. Recent quarterly results have been positive for the company, with net sales growing 23.6% to ₹345.5 crore and profit after tax (PAT) increasing 32.6%.