Stock market today: ACME Solar Holdings, MRF hit 52-week low, Biocon at 1-year high

On Monday, January 20, the National Stock Exchange of India (NSE) saw 33 stocks hit 52-week highs and 49 hit 52-week lows.

The broader markets traded in the positive territory, with the NIFTY50 index gaining 143 points, or 0.6%, to 23,344 as of 2:15 pm. The SENSEX also rose 511 points, or 0.7%, to 77,131.

The volatility index, or India VIX, jumped 4.8% to 16.5. Among sectoral indices, NIFTY Bank and NIFTY PSU Bank were the biggest gainers were the biggest gainers, up around 1.8% and 2.31%, respectively. The NIFTY Auto index was the biggest loser, down 0.5%.

Biocon Ltd (52-week high: ₹400.40)

Biocon was in the news on Monday after its chairperson, Kiran Mazumdar-Shaw, demanded that India eliminate the tax on drugs for cancer treatment and chronic and rare diseases in its upcoming Union Budget 2025, which is expected early next month.

BSE Ltd (52-week high: ₹6,133.40)

BSE shares have been in focus after multiple stock market analysts took a bullish stance on the company. Attractive valuations and the duopolistic nature of the exchange industry have made BSE stock a favourite among investors.

MRF Ltd (52-week low: ₹1,12,100)

MRF recently announced notable progress in the electric vehicle (EV) tyre segment. The company, the exclusive supplier of tyres for Indian defence aircraft and helicopters, said it was expanding its portfolio to include more aircraft and helicopters while exploring opportunities in export markets.

ACME Solar Holdings Ltd (52-week low: ₹213.25)

The recent correction has come amid a selloff in the broader markets after the stock price rallied in early January on announcements that the company has commissioned multiple solar projects in Rajasthan.