Raymond, Sanofi India, VBL and Bajaj Auto hit a 52-week high in today’s session, know why

On Monday, at 11.30 am Nifty traded at 23,300 levels while India VIX was hovering around 16.6 levels, with 56 stocks hitting a 52-week high.

These 4 stocks hit a fresh 52-week high on Monday, June 10, 2024

The company further mentioned in an exchange filing that the project is spread across 2 acres. It is strategically located in the most sought-after residential areas of Mumbai and is estimated to have a revenue potential of over ₹2,000 crore throughout the project. It also clarified that the company will pursue this project post internal and external approvals. This project is in line with the company's growth plans for Real Estate Development in the Mumbai Metropolitan Region. This is the fourth project of the company in Mumbai City outside the existing development at Thane.

Further, on June 3, 2024, the company stated that June 13, 2024, is fixed as the record date for ascertaining the shareholders of the Demerged Company (Sanofi India Ltd). They will be entitled to receive fully paid-up equity shares of ₹10/-each of the Resulting Company ( Sanofi Consumer Healthcare India Ltd).

It has stated in an exchange filing that, ‘1 equity share of the face value of ₹10/- each fully paid-up of the Resulting Company shall be issued and allotted for every 1 equity share of the face value of ₹10/- each fully paid-up held by equity shareholders of the Demerged Company.

Its stock has a positive outlook as revenue is expected to grow due to increased penetration in newly acquired territories in India and Africa, continued expansion in capacity and distribution reach and growing refrigeration in rural and semi-rural areas. The stock price of Varun Beverage has almost doubled returning over 97% in the preceding 12 months.

The Federation of Automobile Dealers Association (FADA) has reported Bajaj Auto’s two-wheeler sales volume of 1,75,179 units with 11.41% market share and for three-wheeler 35,527 units with 36.15 %. The company has expanded its electric scooter lineup with the new Chetak 2901 priced competitively at ₹95,998 ( Ex-showroom).

An important event scheduled this week for the stock is its record date of June 14, 2024, for ₹80 dividend.