The bear market is a period in the stock market when the shares and indexes trade near their 52-week lows or even lower. In the year 2022, the BSE benchmark index has declined approx -10.8%. However, while the majority of shares are hit during this bear market, few stocks have broken the trend and generated wealth for the investors even in the pessimistic market.
Here is the list of the three large cap companies that are trading at their 52 weeks high even during the recent bear market and correction of 2022:
ITC
ITC is the biggest cigarette & second largest FMCG company in India with approx 78% of the market share in cigarettes. ITC’s stock is currently trading at a price of Rs 280.05 apiece which is its 52-week high and also the highest price in the last three years. The stock has given a return of over +27.82% so far in the year 2022 YTD.
For the fourth quarter ended in March 2022, ITC Ltd reported an 11.60 percent rise in its consolidated net profit to Rs 4,259.68 crore driven by all-around growth across verticals. The company had posted a net profit of Rs 3,816.84 crore during the January-March quarter of the previous fiscal.
Consolidated revenue from operations was up 15.25 percent to Rs 17,754.02 crore during the quarter under review compared to Rs 15,404.37 crore in the corresponding period of the previous fiscal. ITC’s total expenses were at Rs 12,632.29 crore, up 15.41 percent in Q4/FY 2021–22, as against Rs 10,944.64 crore in the year-ago period.
ICICI Direct has upgraded ITC shares rating from hold to ‘BUY” with the target price of Rs 310 for a target period of 12 months. They expect cigarette volumes, price growth in the FMCG business & strong Agri exports to drive revenues for the company in the future.
Adani Power
Adani Power is the Indian power and energy company and subsidiary of the Indian conglomerate Adani Group. It is a group company of India’s richest man, Gautam Adani.
Adani Power’s share is currently trading at the share price of Rs 312.25 which is its 52-week high and all-time high price. The stock has given a return of +208.24% so far in 2022 YTD and has more than tripled the shareholder’s money.
In the March quarter, Adani Power’s consolidated net profit jumped multi-fold to Rs 4,645.47 crore from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues. The total income of the company surged 93 percent to Rs 13,308 crore in the March quarter, from Rs 6,902 crore in the same period a year ago. The EBITDA for Q4 FY 2021–22 witnessed a multi-fold increase to Rs 7,942 crore, as compared to Rs 2,143 crore in Q4 FY 2020–21.
HAL
Hindustan Aeronautics Limited or HAL, founded in 1940, is a state-owned aerospace/defense company and one of the oldest and largest aerospace and defense manufacturers in the world.
On Friday, Shares of Hindustan Aeronautics Limited surged +3.82% to reach a fresh 52-week high of Rs 1,750.10 apiece. The HAL Stock has given a return of +41.86% so far in 2022 YTD and +72.47% returns in the last one year.
For the quarter ended 31 March 2022, HAL reported a 90.7 percent surge in net profit at Rs 3,101.96 crore. The company had reported a net profit of Rs 1,621.29 crore in the year-ago period. HAL’s revenue from operations was up 6.4 percent at Rs 11,561.1 crore for the quarter under review against Rs 10,866.5 crore in the same quarter last fiscal.
Disclaimer
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.
