Zomato, Gravita India and Genus Power Infrastructure clinch fresh 52-week high; here’s why

On Monday, over 138 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded flat at 24,533 level, marginally down 0.03%, and SENSEX at 80,366 level, down 0.08%. Nifty Bank is hovering at the 50,408 mark, down 0.21%, while the fear gauge India VIX spiked to 14.66 levels.

The broad market indices traded green, with Nifty Midcap 100 up 0.21% and Nifty Smallcap 100 zooming 1.29%. The major sectoral indices traded mixed with Nifty’s Media, PSU Bank and Oil & gas being top gainers, while Auto remained the top loser.

Top three stocks that hit a fresh 52-week high on Monday, August 19, 2024

Zomato Ltd - India’s leading food delivery aggregator’s stock price traded to a 52-week high at ₹280.90 after surging over 6.2% in Monday’s session. In the early deals on NSE till 9.40 a.m., the stock witnessed over 2.05 crore trade volume with a traded value of ₹563.61 crore, surpassing the company's market cap mark of ₹2.40 lakh crore.

The stock price gained momentum as Zomato’s quick commerce arm Blinkit orders’ hit an all-time high on Sunday.

A day ahead of the festival of Raksha Bandhan, The company’s CEO disclosed that the Blinkit orders and Gross Merchandise Value (GMV) hit an all-time high on Sunday. Blinkit witnessed 693 Rakhis per minute orders.

In last month's Q1FY25 results, Zomato’s performance surprised positively, with GMV growth in Blinkit and strong growth in the food delivery segment.

Blinkit, reported an adjusted EBITDA of negative ₹3 crore, adding 113 stores. While Zomato's Gross order Value (GOV) during the quarter increased by 53% to ₹15,455 crore. The company defines Gross Order Value as the combined GOV of consumer-facing businesses like food delivery, quick-commerce and going-out.

In the last one month, the stock has rallied 24%, and in the last 12 months gained 203%.

Gravita India Ltd - Jaipur-based lead producer’s share skyrocketed 10.85% on Monday, peaking at a 52-week high at ₹2,456.95. The stock has surged over 32% in the last 5 sessions and in the last one month rallied almost 80%.

The stock has witnessed a sharp upward move since the company’s Q1FY25 result reported a great start to the year. The net profit rose 29.4% to ₹68 crore as against ₹53 crore during the same quarter last year. Revenue rose 29% to ₹909 crore against ₹703 crore during the same last year.

According to the management, Q1FY25's performance shows a great start to FY25, the proportion of value-added products and the availability of domestic scrap continue to increase. Gravita is well-positioned for growth with its ambitious expansion plans, strong balance sheet, stringent Government Regulations, and support from all the stakeholders.

The company is anticipated to be a key beneficiary of the growing recycling industry in India and is poised to increase its market share. Further, with the redefining of Battery Waste Management Rules (BWMR), Extended Producers Responsibility (EPR) and stricter implementation of GST, the scrap availability for the formal recycling sector has increased and is further expected to grow.

Gravita India is engaged in lead processing, aluminium processing, trade (Lead products and aluminium scrap) and dealing in Turn-key lead recycling projects. It is dedicated to manufacturing lead & lead products with environment-friendly processes.

Genus Power Infrastructure Ltd - Genus Power a part of Kailash Group and metering solution provider’s stock climbed to a 52-week high at ₹408.05, soaring over 5% in Monday morning session.

Investors cheered the company announcement made over weekends reporting an order win worth ₹2,925.52 crore. As per the exchange filing, the company won three Letters of Awards (LoA) worth ₹2,925.5 crore for the appointment of Advanced Metering Infrastructure Services, including the design of an Advance Metering Infrastructure system with supply, installation and commissioning for about 3.75 million Smart Prepaid Meters, system meters on a DBFOOT (Design, Build, Finance, Own, Operate and Transfer) basis.

With these orders, Genus Power's total order book has now increased to ₹24,383 crore, inclusive of all SPVs and the GIC platform. In Q1FY25 results, the company reported a 58.61% YoY jump in revenue to ₹414 crore, while net profit doubled with 109% YoY growth to ₹48 crore.