Welspun Corp., MCX to Zydus Life: Top five Nifty 500 stocks that hit 52-week high on Sept 25; check full list

Zydus Lifesciences, Multi-Commodity Exchange (MCX), Welspun Corp., Allied Blenders & Distillers, and Engineers India are the top five Nifty 500 stocks which touched their 52-week high during the trading session on Friday, September 25, despite an overall volatile market.

NSE data showed that the benchmark NIFTY50 index was trading 0.25% higher at 23,120 points as of the afternoon session on Friday’s market, in comparison to 23,063.10 points at the previous equity market close.

Meanwhile, the BSE SENSEX was trading 0.37% higher at 73,859 points during the market session on Sept. 25, compared to 73,580.54 points at the previous close, as per the exchange data.

The broader market indices remain subject to weak momentum cues amid the continued foreign investment outflow, a bounce back in global crude oil prices, and elevated US Treasury yields to multi-year highs.

Top 5 stocks at 52-week high

Zydus Lifesciences

Shares of Zydus Lifesciences surged 2.3% to touch an intraday and 52-week high level of ₹1,208.60 apiece during the trading session on Friday, September 25, when compared to ₹1,180.30 per share at the previous market close.

After touching the year-high, the company’s stock was trading 1.5% higher during the afternoon market hours, hovering around ₹1,198.50 apiece on Friday.

Trading volumes surged past 1.7 million equity shares across NSE and BSE combined, indicating elevated investor interest despite an overall weakness in the market.

Similar to the other pharmaceutical companies, Zydus Lifesciences this week witnessed a defensive sector rotation momentum as investors exited high-growth stocks amid the elevated uncertainty and volatility in the market.

In the longer term, market experts predict that pharma companies like Zydus are expected to benefit from rising demand, increased affordability, and innovation opportunities in the healthcare sector.

MCX

Multi-Commodity Exchange (MCX) shares surged 1.5% to hit their intraday and 52-week high level of ₹3,481.40 during Friday’s market, in comparison to ₹3,427.70 apiece at the previous market close, according to NSE data.

After the early market rally, the company’s stock declined 3.4% during the trading session as investors booked profits after the year-high levels, with trading activity surpassing 1.9 million equity shares.

With the overall dented sentiment in the market and the volatility in commodity market prices, investors are focused on profit booking in the stock as foreign investors pull funds out of emerging markets amid elevated uncertainty.

Stock performance

Welspun Corp.

With trading volumes surpassing 2.2 million equity shares across NSE and BSE combined, the elevated investor interest powered the high-volume gains during the intraday session.

After touching a day’s high, the company’s stock retracted some of its gains, trading 4.3% higher at ₹2,808 apiece on NSE.

Latest company filing showed that Welspun Corp. secured its largest-ever order for High-Frequency Induction Welded (HFIW) pipes worth $412.5 million or ₹4,000 crore.

As per the data, the pipes will be manufactured at its upgraded facility in Little Rock, USA, with execution scheduled for FY28 and FY29. With this order update, Welspun’s order book has touched a record of $4.7 billion or ₹45,000 crore.

Allied Blenders & Distillers

Shares of Allied Blenders and Distillers jumped 5.8% to touch a fresh 52-week high level of ₹753.80 during the trading session on September 25, in comparison to the previous market close of ₹712.15 apiece, as per the exchange data.

Despite hitting a 52-week high, Allied Blenders’ stock declined from its day-high levels, trading with flat gains on Friday’s market.

Trading volumes touched 4 million equity shares across both NSE and BSE combined, in turn triggering the high-volume gains in the market.

The latest corporate filing showed that Allied Blenders’ promoter Bina Kishore Chhabria sold 55,00,000 or 55 lakh equity shares of the company on the open market this week, on September 23.

Engineers India

Engineers India's stock price jumped 7.4% to hit a 52-week high of ₹318.70 per share on Friday’s market, in comparison to ₹296.65 apiece at the previous equity market close, as per the exchange data.

Trading volumes surpassing 15 million equity shares across NSE and BSE combined triggered high-volume momentum and investors' interest in the stock after the company announced the closure of the trading window for key personnel, effective October 1, ahead of the Q2 earnings report.

Earlier this week, Africa’s Dangote Group partnered with Engineers India for the expansion of the Dangote Refinery and Petrochemical Complex to produce 1.4 million barrels per day.