Wipro to Max Healthcare: These stocks rally up to 9.5% to hit 52-week highs

As many as 102 securities hit their 52-week highs on the National Stock Exchange of India (NSE) on Tuesday, December 10, amid flat broader markets.

As of 11:26 am, the NIFTY 50 index was trading at 24,644.70, up 25.70 points, or 0.1%. The BSE SENSEX, meanwhile, stood at 81,608.69, up 100.23 points, or 0.12%.

The volatility index, or India VIX, was down 2.46% to 13.76. All the sectoral indices were trading in the green with gains of up to 1%, except the Auto, Media and Oil and Gas indices that were down 0.1-0.5%.

Here’s a look at three major stocks that touched their 52-week highs on Tuesday, December 10, 2024.

Wipro Ltd (52-week high: ₹311)

The Wipro stock recently started trading ex-bonus on December 3. The company had announced a 1:1 bonus issue, granting shareholders one bonus share for every fully paid-up equity share held. A corresponding bonus of one American Depositary Share (ADS) for every one ADS held was also issued. IT stocks have also been rising due to the depreciation of the Indian rupee against the dollar, which is a positive for software exporters as they earn in the US currency.

Religare Enterprises Ltd (52-week high: ₹304.6)

The Burman family currently holds a 25% stake in the company and had announced plans to acquire an additional 26% stake for ₹2,116 crore as per the rules. However, as Religare is engaged in the insurance and financial services, the open offer required multiple regulatory approvals.

Max Healthcare Institute Ltd (52-week high: ₹1,129.45)

The company was in the news last month after it announced that it had completed the acquisition of Jaypee Hospital. In September, Max had declared that it would acquire a 64% stake in the struggling Jaypee Healthcare, with an option agreement for the remaining 36%, at an enterprise value of ₹1,660 crore. This acquisition granted Max Healthcare control of Noida’s 500-bed hospital, as well as two other hospitals in Uttar Pradesh in the Bulandshahr and Anoopshahr districts.

Other stocks that hit 52-week high: Shares that hit their 52-week highs on Tuesday include BLS International Services Ltd, Bajaj Healthcare Ltd, Cartrade Tech Ltd, Monte Carlo Fashions Ltd, LT Foods Ltd, Dishman Carbogen Amcis Ltd, Orient Press Ltd, Orbit Exports Ltd, ASK Automotive Ltd, Premier Energies Ltd, Neogen Chemicals Ltd, Nippon Life India Asset Management Ltd, Softtech Engineers Ltd, Setco Automotive Ltd and Agi Infra Ltd, among others.