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  5. Stock market live: Kotak Mahindra Bank, SBI Cards and Muthoot Finance hit 52-week high; here’s why

Market News

Stock market live: Kotak Mahindra Bank, SBI Cards and Muthoot Finance hit 52-week high; here’s why

Upstox
By Upstox News Desk

3 min read | Updated on February 13, 2025, 12:41 IST

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SUMMARY

Kotak Mahindra Bank, SBI Cards, and Muthoot Finance, along with 8 other stocks, hit their 52-week highs as the broader market rebounded from a six-day losing streak. The NIFTY50 rose by 0.69%, with strong gains in sectors like metal and pharma, while the India VIX dropped 2.5%.

Stock list

KOTAKBANK
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SBICARD
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MUTHOOTFIN
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SBI Cards, Kotak Mahindra Bank, Muthoot Finance and 8 others hit 52-week high; check full list

SBI Cards, Kotak Mahindra Bank, Muthoot Finance and 8 others hit 52-week high; check full list | Image: Shutterstock

As many as 11 stocks hit 52-week highs today as the broader markets snapped a six-day losing streak to trade positive on Thursday.

At 11:35 am, the benchmark NIFTY50 was trading at 23,205, up 159.7 points, or 0.69%. The BSE SENSEX, meanwhile, was trading up 495.25 points, or 0.65%, at 76,666.33.

The volatility index, or India VIX, was down 2.5% to 14.53. All the sectoral indices were trading in the green except the NIFTY IT Index, which was marginally down by 0.1%. The NIFTY Metal and NIFTY Pharma indices were the top gainers, up 1.9% and 1.6%, respectively.

Here’s a look at the major stocks that touched their 52-week highs on Thursday, February 13:

Kotak Mahindra Bank (52-week high: ₹1,992.80)

Shares of private sector lender Kotak Mahindra Bank gained as much as 2.5% on Thursday to hit their 52-week high of ₹1,992.8 apiece on the NSE. The stock has risen 13.6% in the past month and has reached similar levels in the last year as well.

On Wednesday, the Reserve Bank of India (RBI) decided to lift the previously imposed restrictions on Kotak Mahindra Bank and allowed customers to open a new Kotak Mahindra Bank 811 account through an online and mobile app and apply for the bank’s credit cards. The bank was earlier told to cease onboarding new customers through its online and mobile banking channels and issue fresh credit cards.

SBI Cards and Payment Services (52-week high: ₹867.2)

Shares of SBI Cards and Payment Services surged as much as 6.2% on Thursday to hit their 52-week high of ₹867.20 apiece on the NSE. The stock is up almost 20% in the past year.

SBI Cards shares were on the rise today, supported by upbeat outlook from market experts. Experts believe the company’s credit costs will decline significantly over the next two quarters, supported by factors such as falling interest rates, improved liquidity, and potential tax cuts. However, the company reported subdued earnings in Q3FY25 as its net profit declined 30.2% YoY to ₹383 crore, while revenue was down marginally to ₹4,619 crore.

Muthoot Finance (52-week high: ₹2,334.80)

Shares of Muthoot Finance Ltd shot up as much as 7% on Thursday to hit their 52-week high of ₹2,334.8 apiece on the NSE. The stock is up over 10% in the past month and a whopping 69% in the last one year.

On Wednesday, Muthoot Finance reported an impressive 33% year-on-year jump in net profit to ₹1,363 crore in the December 2024 quarter (Q3FY25). Net interest income (NII) was also up 43% YoY to ₹2,721 crore in Q3FY25.

The company’s board also approved fund-raising to the tune of ₹21,063 crore by issuance of redeemable non-convertible debentures (NCDs).

Other stocks that hit 52-week highs: Shree Cement Ltd, Baheti Recycling Industries, Norben Tea and Exports, and Dr Agarwal's Health Care Ltd.
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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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