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  5. Wockhardt, EID Parry, and KEC International shares hit 52-week highs; here’s why

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Wockhardt, EID Parry, and KEC International shares hit 52-week highs; here’s why

Upstox
By Upstox News Desk

4 min read | Updated on November 28, 2024, 12:40 IST

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SUMMARY

Shares of drug manufacturer Wockhardt Ltd jumped as much as 3.4% in trade on Thursday to hit their 52-week high of ₹1,390 apiece in a fifth consecutive session of gains. Shares of KEC International Ltd, a leading infrastructure company, surged as much as 7% to hit their all-time high of ₹1,094.7 apiece on the NSE.

Stock list

WOCKPHARMA
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EIDPARRY
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KEC
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Shares of EID Parry India Ltd gained as much as 4.9% on Thursday to hit a 52-week high of ₹894.5 apiece on the NSE.

As many as 47 stocks hit their 52-week high on the National Stock Exchange of India (NSE) on Thursday, November 28, even as the benchmark equity indices traded in the red.

As of 12:27 pm, the NIFTY50 index was trading at 24,080.6, down 194 points, or 0.80%. Meanwhile, the BSE SENSEX descended 670 points, or 0.83%, to 79,570.

In the broader market, NIFTY MIDCAP 100 and the NIFTY SMALLCAP 100 were trading in the green with gains of up to 0.3%.

Here’s a look at three major stocks that touched their 52-week highs on Thursday, November 28, 2024.

Wockhardt Ltd (52-week high: ₹1,390)

Shares of drug manufacturer Wockhardt Ltd jumped as much as 3.4% in trade on Thursday to hit their 52-week high of ₹1,390 apiece in a fifth consecutive session of gains. The stock has gained over 15% in the past five sessions and 22% in the past one month. The stock price has quadrupled in the past one year in a major turnaround.

Wockhardt was recently in the news after the company raised ₹1,000 crore earlier this month through a qualified institutional placement (QIP). The company issued 90.49 lakh shares to eligible institutions at an issue price of ₹1,105 per share, which was a 4.93% discount to the floor price of ₹1,162.25.

For the last quarter ended September 2024, Wockhardt had reported a consolidated net loss of ₹16 crore compared with a net loss of ₹73 crore in the year-ago quarter. Revenue from operations stood at ₹809 crore for the period compared with ₹753 crore in the year-ago quarter.

EID Parry India Ltd (52-week high: ₹894.50)

Shares of sugar manufacturer EID Parry India Ltd gained as much as 4.9% on Thursday to hit a 52-week high of ₹894.5 apiece on the NSE. The stock has rallied almost 16% in the past one month, keeping in line with the gains seen in other sugar stocks. Over the past one year, the stock has risen almost 65%.

On November 14, the company had reported its second quarter earnings that saw its profit declining 32.4% year-on-year (YoY) to ₹305.6 crore compared with a net profit of ₹452.3 crore in the year-ago period. Revenue from operations had increased 3% year-on-year to ₹9,330.4 crore during the second quarter. At a consolidated level, profit after tax for the September 2024 quarter stood at ₹591.66 crore, 24% lower compared with a year ago.

KEC International (52-week high: ₹1,094.70)

Shares of KEC International Ltd, a leading infrastructure company, surged as much as 7% on Thursday to hit their all-time high of ₹1,094.7 apiece on the NSE. The company announced after the market hours on Wednesday that its transmission and distribution business has secured turnkey orders valued at ₹1,704 crore from Power Grid Corporation of India Ltd to set up 765 KV transmission lines and GIS substations.

Earlier this week, the company had won orders worth ₹1,114 crore across its various businesses. It had bagged orders in the transmission and distribution business in the Middle East and the Americas. It had secured a 400 kV transmission line in Oman and a tower and hardware supply order in the Americas. It had also won orders in the industrial and cable business segment in India.

Other stocks that hit 52-week highs: Other companies that hit their 52-week highs on Thursday include Nesco Ltd, Aditya Birla Sun Life AMC Ltd, HDFC Bank Ltd, Computer Age Management Services Ltd, One 97 Communications Ltd, Ajmera Realty and Infra India Ltd, Pearl Global Industries Ltd, Swiggy Ltd, Bliss GVS Pharma Ltd, Deep Industries Ltd, Dixon Technologies (India) Ltd, Sagility India and Univastu India Ltd.

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