These three stocks hit 52-week high on Wednesday, do you own any?

On Wednesday, over 46 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,229 level, up 0.99%, and SENSEX at 79,247 mark, up 0.83%. Nifty Bank is trading at 49,876, up 0.26%, while the fear gauge India VIX fell to 17.04.

The broad market indices traded green, with Nifty Midcap 100 up 1.72% and Nifty Smallcap 100 up 1.67%. All of the sectoral indices traded in the green, with Nifty’s Metal, Pharma, and Healthcare being top gainers.

Top three stocks that hit a fresh 52-week high on Wednesday, August 7, 2024

Lupin Ltd- The share price of the pharma major logged a fresh 52-week high at ₹2,029.95 climbing 6.2% in Wednesday's session.

The drugmaker's robust quarterly results for Q1FY25 cheered the stock price as they beat estimates. The company posted an over 77% YoY spike in its net profit to ₹801.3 crore for the June ended quarter against a net profit of ₹452.3 crore Q1FY24. Further, the revenue also grew over 16% YoY to ₹5,514.30 crore in Q1FY25, up from ₹4,895.10 crore. The revenue growth was driven by strong double-digit sales growth in India’s formulations and the US business.

At the operating level, EBITDA surged 45% to ₹1,241 crore in Q1FY25 over ₹856 crore in the corresponding period in the previous year. Investment in R&D for the quarter was ₹350 crore, representing 6.3% of sales. As of June 30, 2024, Lupin reported a net cash of ₹19.5 crore.

In the last 6 months, the stock has rallied over 25% and in the last 12 months 85%.

TVS Motor Company Ltd - India’s leading two-wheeler company’s stock soared 5.6% on Wednesday, peaking at a 52-week high at ₹2,618.6.

On the business front, motorcycle sales grew by 11% YoY registering 5.14 Lakh units in Q1FY25. Also, the Scooter sales grew by 19% YoY at 4.18 lakh units during the quarter.

To tap the fast-growing EV space and make TVS’s EV portfolio one of the largest and most attractive in the market along with making electric mobility accessible to everyone, during the quarter the company introduced new variants of TVS iQube. TVS iQube is now available in three battery options to choose from: 2.2 kWh, 3.4kWh and 5.1kWh.

Symphony Ltd - The leading manufacturer of air cooler scrip climbed to a 52-week high at ₹1,559, gaining over 6.6% in Wednesday’s morning session.

The strong Q1FY25 earnings and the board’s approval for a lucrative buyback offer with a 100% premium, resulted in strong buying interest in the stock, driving the m-cap to touch ₹10,000 crore mark.

For the last few months, investors have been anticipating strong performance in Q1. This was based on account of the hottest summer season across the country, driving the sales of cooler manufacturers, with stock price gaining over 57% in the last 6 months and 32% in the last month.

As per the company in Q1FY25, revenue stood at ₹531 crore up 76% YoY, with gross margin at 51.2%, with an increment of 150 bps YoY basis. Net profit jumped multi-fold to ₹88 crore up 270% YoY basis. This strong performance was driven by scorching and crippling heatwaves, strong penetration in semi-urban and rural markets and D2C business said the company.

Further, the board approved the Buyback at ₹2,500 per share i.e. at almost 100% premium of August 5, closing price amounting to ₹89.56 crore and an interim dividend of ₹1 per share.

Wednesday, August 21, 2024, has been set as the record date to determine the entitlement and the names of equity shareholders who shall be eligible to participate in the buyback and for the payment of interim dividend.