These 3 stocks hit a 52-week high today, August 22, 2023

Today, the broader indices, such as Nifty50 and BSE Sensex, remained range bound. The Nifty50 index opened the day at 19417, up by 23 points from the previous day’s closing level of 19310. It eventually concluded the day at 19396.45, marking a flat closing. Meanwhile, the BSE Sensex closed at 65220, up by a mere 4 points from the previous day’s closing level.

In this article, we will explore the stocks that have reached new 52-week highs, considering the company’s previous 52-week prices recorded in the year 2022.

 Tide Water Oil Company (India) Limited is a prominent manufacturer and marketer of lubricants in over 65 countries worldwide. In India, since 1928, it has been serving both the automotive and industrial sectors under the ‘Veedol’ brand.

Today, the company’s shares surged by 4%, concluding the session at Rs 1208 on the NSE. The company’s market capitalization stands at Rs 2105 crore.

During Q1 FY24, the company’s revenue experienced growth of 8%, rising from Rs 439 crore to Rs 474 crore. The company achieved an operating profit of Rs 39 Crore, with an operating profit margin of 8%. The net profit amounted to Rs 31 crore. The company’s ROCE and ROE are 19.8% and 15.4%, respectively. However, the stock has generated a return of 39% over the past three months.

Mahindra Lifespace Developers Limited was incorporated in 1999. It is engaged in the business of real estate development, including residential facilities and commercial complexes. Through its subsidiary companies, it is also involved in various infrastructure projects, including the development of SEZs (Special Economic Zones) and industrial clusters.

Today, the company’s shares surged by 3.26%, concluding the session at Rs 527 on the NSE. The company’s market capitalisation stands at Rs 8185 crore.

During Q1 FY24, the company’s revenue experienced growth of 3.7%, rising from Rs 94.55 crore to Rs 98.04 crore. However, the company’s operating loss widened to Rs 43 crore from Rs 32 crore. The company reported a net loss of Rs 4 crore against a profit of Rs 76 crore. The company’s ROCE and ROE are significantly low at 2.11% and 1.78%, respectively. Despite this, the stock has generated a return of 30% over the past three months.

Vidhi Specialty Food Ingredients Limited, incorporated in 1994, is a leading manufacturer of superior synthetic and natural food-grade colours. The company is the second-largest food colour manufacturer in Asia. The company’s products have applications in industries such as Food & Beverage, Confectionery, Pharmaceuticals, Pet Foods, Cosmetics, Inkjet Inks, Personal Care, and Home Care.

Today, the company’s shares surged by 4%, concluding the session at Rs 437 on the NSE. The company’s market capitalisation stands at Rs 2190 crore.

During Q1 FY24, the company’s revenue experienced a decline of 34%, dropping from Rs 120.69 crore to Rs 79.67 crore. The company achieved an operating profit of Rs 13 crore, with an operating profit margin of 16.34%. The net profit amounted to Rs 8.38 crore. The company’s ROCE and ROE are 17.6% and 16.2%, respectively. However, the stock has generated a return of 24% over the past three months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.