- Date : 26/09/2023
- Read: 3 mins
A round-up of some of the stocks that have touched their 52-week high in the recent past.
A stock hitting its 52-week high is an encouraging sign. It is an indication of bullish sentiments for the stock, making it attractive for new investors. Here are a few stocks that breached their 52-week highs in the last few days.
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Stocks across market caps have hit a 52-week high
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Here we take a look at recognised stocks with long stock market legacy
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Three banks are among the companies that have peaked recently
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Watch out for the market sentiment on a stock as it touches its 52-week high
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Punjab National Bank
PNB’s share has been climbing since June, with strong interest from mutual funds. It has increased by more than 165% in the last 15 months, going on to hit a 52-week high of Rs 81.35. The stock has generated a 123% return in one year, and 34.42% in the last five years.
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Union Bank of India
Union Bank is nowhere near its glory days from a decade or so ago. However, its recent rise is nothing short of meteoric, increasing five-fold in less than three years. The share has increased 138% in one year, and 53% in the last five years.
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South Indian Bank
South Indian Bank has risen consistently during this financial year. The stock has hit a 52-week high of Rs 27.5 and is trading above Rs 26 presently. Its one-year return is 176% and its five-year return is 98%.
Also Read: India’s Mortgage Stocks 2023: A Closer Look At These 7 Promising Players
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Balkrishna Industries
Tyre manufacturers Balkrishna Industries hit a 52-week high of Rs 2,578.9 recently. The stock has risen 36% during the year and by more than 150% in five years.
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Maruti Suzuki
Another stock to race past its previous 52-week high was Maruti Suzuki. After hitting its high of Rs 10,720, the auto stock is currently trading at Rs 10,546. The stock has delivered 19.37% during the year, and 43.52% in the last five years.
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Coal India
Presently trading at Rs 288, Coal India rose from Rs 230 in September 2023 to reach a 52-week high of Rs 291.40. This marks a 33.4% annual hike and a five-year return of 8.17%.
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Tata Consumer Products
Having breached Rs 900 for the first time ever, Tata Consumer posted a 52-week high of Rs 909.90 and is trading at Rs 898 currently. It has posted a 1-year return of 15% and a 5-year return of 284%.
Conclusion
Railway stocks like Rites, RVNL, IRFC, etc. saw a rally towards a 52-week high in early September, only to fall sharply in the last few days. This is an indication that this landmark may act as a psychological barrier among investors. As an investor, have a look at how the stock reacts after hitting its 52-week high, and then finalise your decision.
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Also Read: Top Small-cap And Mid-cap Stocks Where Mutual Funds Increased Holdings In 2023
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