The Indian markets ended in red ahead of the US Federal Reserve meeting outcome later tonight. The BSE Sensex ended 215 points lower at 60,906. The broader index NIfty50 lost 62 points to settle at 18,083.
Amid the volatile markets, here are two stocks that hit 52 weeks high after strong Q2 results:
Sun Pharmaceutical Industries Limited
The shares of Sun Pharmaceutical Industries climbed by 3 per cent to reach its new 52-week high of Rs 1,070.95 during the early hours of Wednesday. The stock ended at Rs 1,051. In the past month, it has gained 12 per cent.
In Q2FY23, their total revenue stood at Rs 10,952 crores which increased from Rs 9,625 crores in Q2FY22. The company reported a 10.51 per cent year-on-year (YoY) rise in net profit at Rs 2,262.20 crore in the September quarter compared with Rs 2,047.01 crore in the same quarter last year.
Sun Pharmaceutical Industries. Ltd is an international speciality pharma company that is engaged in the manufacturing of active pharmaceutical ingredients.
Max Healthcare Institute Limited
The shares of Max Healthcare Institute zoomed by 5 per cent during the day to reach its new 52-week high of Rs 482.80. The scrip closed at Rs 465. In the past month, it has gained 12 per cent.
In the latest quarter, the company reported a total revenue of Rs 1,137 crores which is an increase from Rs 1,018 crores in the same period last year. Their net profit stood at Rs 457 crores which is a multifold increase from Rs 144 crores Year on Year.
Max Healthcare Institute Limited is primarily engaged in providing healthcare services through primary care clinics, multi-speciality hospitals / medical centres, and super-speciality hospitals.
Written by Anoushka Roy
