Domestic benchmark indices started the last session of the week in green. The Sensex gained 220.93 points to touch 58519.73 points, and the Nifty50 climbed to as high as 17,437.90 points, up 222.95 points from its previous close. Here are a few shares that reached their respective 52-week highs as the markets escalated:
Mahindra & Mahindra Ltd
The shares of Mahindra & Mahindra Limited rose 1.32% to reach a fresh 52-week high of ₹ 1278.50. This was after the company said that it is all set to unveil its new electric car in India, this month on August 15, 2022. Many analysts said that the company has done extremely well on the SUV front.
They have changed the outlook of the company to a four-wheeler company rather than a tractor company. The shares had reached their all-time high of ₹1571.15 as of December 20, 2017.
Tata Elxsi Ltd
The shares of the design and technology provider zoomed 5.23% on Friday’s intraday trades to reach a new 52-week high of ₹9425.00 apiece. At this point, its shares are also at their all-time high.
The company’s net profit climbed 63% in the latest quarter to ₹184.72 crores. Analysts say that the company has been delivering consistent and industry-leading growth since the pandemic and that its business outlook continues to remain solid.
Varun Beverages Limited
The company has been associated with PepsiCo since the 1990s and produces and sells PepsiCo brands like Pepsi, Seven-up, Mirinda Orange, Mountain dew, Tropicana Juices and more. Its shares surged 3.99% on Friday to a fresh 52-week high of ₹1043.85.
The company reported a two-fold increase in its net profit after tax in the latest quarter. Its shares reached an all-time high of ₹1178.00 on June 09, 2021.
Cholamandalam Investment & Finance Company Ltd.
The shares of the non-banking finance company quoted 3.20% higher on Friday as it reached a fresh 52-week high of ₹ 787.50. The shares reached their all-time high of ₹ 862 apiece on August 17, 2017. The share price of the company gained as the benchmark indices gained
Written by Simran Bafna
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
To stay updated with the Latest Stock Market news, download our app here!
For editorial purposes, contact email@example.com
Start Your Financial Learning Journey
Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail. And do not miss out on the Introductory Offer!!