Tata Motors, NTPC and Colgate Palmolive (India) clinched a fresh 52-week high; here’s why

On Tuesday at around 11.10 a.m. over 180 stocks advanced to 52-week highs, the benchmark indices, NIFTY50 traded at 24,932 level, soaring 0.39%, SENSEX is at 80,659 level, up 0.37% and the Nifty Bank at 51,658 level, up 0.49%, while the fear gauge India VIX rose to 12.99 levels.

The broad market indices remained in green with Nifty Midcap 100 up 0.69% and Nifty Smallcap 100 up 0.94%. Majority of the sectoral indices traded in green except IT and Metals, while PSU banks and healthcare traded in red marginally.

Three stocks that hit a fresh 52-week high on Tuesday, July 30, 2024

Tata Motors Ltd- India’ trusted automaker’s stock spiked 2.75% on Tuesday's morning session, climbing to a fresh 52-week high at ₹1,154.90, the stock has gained around 13% in the last 5 sessions.

On the domestic front, the company is planning to set up a plant in Tamil Nadu to manufacture and export electric vehicles for its JLR arm, suggest media reports. As per recent media reports the company is expected to lay the foundation stones for ₹9,000 crore investment towards JLR’s EV segment manufacturing in Tamil Nadu in September this year.

The plant is expected to be operational in 12-18 months and if kicked off mark the first ever premium vehicle completely manufactured in India instead of assembled. As per the company the waiting list for the new Range Rover Electric continues to grow, with over 39,000 sign ups, demonstrating strong customer preference for EVs in the premium segment as well.

The stock’s market-cap has surpassed the market-cap of M&M.

NTPC Ltd - On Tuesday's early trade, the leading PSU in the energy sector saw its stocks hit a new 52-week high of ₹412.7, up by 4.77%.

In Q1FY25, the company remained the largest power generator in India with installed capacity of 76GW. The financials for Q1 were robust with revenue growing over 14% YoY to ₹39,122 crore and net profit growing 11% YoY to ₹4,066 crore, beating the street's estimates.

In the coming period the company’s strategy to ramp up renewable energy and pilot initiatives on green hydrogen are expected to act as growth drivers due to increasing consumption and limited energy resources, sustainable energy would have a large role to play. In FY24 the company added 304 MW of renewable projects to their capacity.

August 7, 2024 has been set as a record date for the company's final dividend of ₹3.25.

The record date is the cutoff established by a company to determine the shareholders eligible to receive a dividend. The shareholders as on record date become eligible for the dividend.

Colgate Palmolive (India) Ltd - FMCG major’s stock price witnessed a surge over 6.35% on Tuesday with the stock price scaling to a fresh 52-week high at ₹3413.75. The stock has gained almost 19% in the last month period.

The popular toothpaste maker’s Q1FY25 results cheered the stock price with net profit soaring over 33% on YoY basis in Q1 to ₹364 crore, beating the estimates of the street.

The Q1FY25 earning company reported a strong performance with revenue up 13.1% YoY to ₹1,497 crore, EBITDA up 21.6%YoY to ₹508 crore and net profit up 33% YoY to 364 crore, aided by the strong demand for personal care products.

As per the company’s management the toothpaste portfolio saw double digit growth in Q1, driven by volume growth. Company stated in an exchange filing that, at least 50% of Colgate’s toothpaste portfolio by volume has transitioned to recyclable tubes, and the company is on track to exit fiscal 2025 with 100% recyclability.