UltraTech Cement, Wockhardt among 108 stocks to hit 52-week high, details here

As many as 108 securities hit fresh 52-week high levels on the National Stock Exchange of India (NSE) on Monday, December 16, even as the market sentiment remained weak.

Benchmark NIFTY 50 index was trading at 24,635.4, down 132.9 points, or 0.54%, at 11:25 am. The BSE SENSEX, meanwhile, was trading at 81,691.33, down 441.79points, or 0.54%.

The volatility index, or India VIX, shot up 10.5% to 14.42. Among sectoral indices, the realty index was the biggest gainer, rising 2.3%, while the metal index was the biggest loser, down 0.8%.

Here’s a look at three major stocks that touched their 52-week highs on Monday, December 16, 2024.

UltraTech Cement Ltd (52-week high: ₹12,145.35)

UltraTech Cement shares have risen about 13% in the last one month. Last week, news reports said that cement prices have risen in India in December after months of stagnation due to increased demand from the real estate and infrastructure sectors, driven by better labour availability after the festive season.

Also, UltraTech Cement was in the news over the weekend after it became the first cement company in India to leverage National Waterway 1 for gypsum transport at scale. The shipment travelled from Haldia to Patna. This initiative reduces carbon emissions and also eases congestion on roads and railways.

Wockhardt Ltd (52-week high: ₹1.536.60)

Till date, 45 patients who were suffering from a range of life-threatening Gram negative infections have benefitted under compassionate use of Zaynich. Wockhardt said that the drug is nearing the completion of its Phase III study for global registration and marketing authorisation.

Wockhardt chairman Habil Khorakiwala had earlier said in media interviews that once the trials are complete, the company will seek necessary regulatory approvals and will launch Zaynich in the market ‘some time in 2026’. Khorakiwala estimates that almost 7 lakh patients in the US could require this drug.

Oberoi Realty Ltd (52-week high: ₹2,198)

Oberoi Realty was also in the news recently after its MD and Chairman Vikas Oberoi announced that the company was set to open a second mall in Mumbai’s Borivali area by January 2025. The company’s first project outside Mumbai Metropolitan Region (MMR) in Gurugram is also currently under approval and is expected to be launched by the first or second quarter of FY 2025-26.

Other stocks that hit 52-week high: Page Industries Ltd, Harrisons Malayalam Ltd, Donear Industries Ltd, CL Educate Ltd, Amj Land Holdings Ltd, Indian Hotels co. Ltd, Steel City Securities Ltd, Zota Health Care Ltd, SRM Contractors Ltd, PDS Ltd, Thomas Scott (India) Ltd, Jindal Photo Ltd and HBL Power Systems Ltd, among others.