Whirlpool, MCX and Torrent Power drive market momentum as all three stocks hit 52-week highs

On Tuesday, 44 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,650, down 0.5%, and SENSEX was at 80,950, down 0.23%. The Nifty Bank was trading at 51,600, down 0.25%, while the fear gauge, India VIX, tumbled by 3.3% to 14.17.

The broader market indices were in negative territory, with the Nifty Midcap 100 down 1.4% and the Nifty Smallcap 100 slipping 2.4%. The sectoral indices traded mixed, with Nifty Financial Services up 0.67%, making it the top gainer. Meanwhile, Nifty Realty was the top loser, falling by 1.84%.

Three stocks which hit fresh 52-week highs on Tuesday, October 22, 2024

Whirlpool of India Ltd

The company is one of the leading manufacturers and marketers of major home appliances in the country.

On Tuesday, the stock surged by 4.26% from its previous close, reaching a 52-week high of ₹2,449.70. As of 10:10 a.m., it was trading at ₹2,379.90, up by 1.29%.

The company is set to post its Q2FY25 results soon, with an estimated mid-teen growth in revenue year-on-year (YoY) on a low base. Margins are also expected to expand along with profit after tax (PAT). The stock has been rising for three consecutive trading sessions.

In Q1 FY25, the company reported revenue of ₹2,384 crore, compared to ₹1,923 crore in Q1 FY24, reflecting a YoY growth of 23.97%. PAT for Q1 FY25 stood at ₹134 crore, up from ₹62 crore in Q1 FY24.

Over the past month, the company has significantly outperformed the market, delivering a return of 16.69%. Its current market capitalisation is ₹30,108 crore.

MCX

The company has a monopoly in the commodity futures market and is a leading commodity derivatives exchange. It offers fair price discovery and price risk management benefits to the Indian commodity market ecosystem.

On Tuesday, the stock surged by 1.01% from its previous close, reaching a 52-week high of ₹6,698.40. As of 10:32 a.m., it was trading at ₹6,477.75, down by 2.28%.

The company reported its Q2FY25 results on Saturday (October 19, 2024), which could explain the stock's movement. Over the last five financial years, the company has shown consistent growth in its top line, with an operating profit margin (OPM) ranging from 9% on the lower end to 31% on the higher end. The OPM for FY24 stood at 9%.

In Q2 FY25, the company reported revenue of ₹286 crore, compared to ₹165 crore in Q2 FY24, reflecting a YoY growth of 73%. PAT for Q2 FY25 stood at ₹154 crore, up from a loss of ₹19 crore in Q2 FY24.

Over the past month, the company has outperformed the market, delivering a return of 12.58%. Its current market capitalisation is ₹33,058 crore.

Torrent Power Ltd

The company is a leading integrated power utility in India, operating across power generation, transmission, and distribution.

On Tuesday, the stock surged by 3.56% from its previous close, reaching a 52-week high of ₹2,037. As of 10:35 a.m., it was trading at ₹1,997.70, up by 1.56%.

The company is reportedly eyeing a Qualified Institutional Placement (QIP) of around ₹3,000-₹4,000 crore, which is expected to fund acquisitions, organic growth (including capex for new projects), working capital requirements, and debt repayment.

In Q1 FY25, the company reported revenue of ₹9,034 crore, compared to ₹7,328 crore in Q1 FY24, reflecting a YoY growth of 23.28%. PAT for Q1 FY25 stood at ₹996 crore, up from ₹532 crore in Q1 FY24.

Over the past month, the company has outperformed the market, delivering a return of 7.37%. Its current market capitalisation is ₹95,965 crore.