6 Stocks Trading Close To Their 52-Week High To Add To Your Watchlist

Benchmark indices are trading with small gains after opening lower today. Nifty at the time of writing this copy at around 10:04 am is up by 30 points or 0.18% at 17,428, while Sensex traded higher by 139 points or 0.24% at 58,527.

Markets were expected to open on a weak note today tracking weak global clues after a stronger-than-expected US jobs report on Friday raised the prospects of the Fed maintaining its aggressive monetary policy.

Here are the stocks to keep an eye on as they are trading near to their 52-week high today. Importantly, stocks trading close to their 52-week high represent strength in them.

Adani Enterprises

Adani Enterprises (AEL) is the flagship company of the Adani Group. The company is into building infrastructural assets with businesses across coal trading, coal mining, oil and gas exploration, ports, multi-modal logistics, power generation, and transmission and gas distribution.

Last the stock price of the company was at Rs. 2717 while its 52-week high price is Rs. 2767.65 i.e. the stock trades just 1.86% away from its 52-week high price.

 

 

Adani Transmission

It is another large cap Adani company engaged in engineering, construction management / operation and maintenance business. The Company's businesses include engineering, procurement and construction (EPC) and Utilities. In the Q1 quarter of Fy23, the company's PAT logged a decline by a steep 61% to Rs. 168 crore.

The stock's 52-week high price is Rs. 3549 and considering its last traded price of Rs. 3348 it is trading with a gap of 6% from its 52-week high.

Blue Dart Express

Blue Dart Express carries out the business of integrated air and ground transportation and distribution of time sensitive packages to various destinations, primarily within India. Reportedly, the scrip is expected to be included in FTSE Global in the next rebalancing.

The company's share price on the NSE of Rs. 8970 takes its difference from the 52-week high of Rs. 9067.5 to just 1.09%.

ITC

The conglomerate company operates chiefly through 4 segments namely FMCG, hotels, paper and packaging and agri-business. The share price of the FMCG major last week hit a 52-week high after the company logged 34% YoY jump in consolidated net profit for the June ended quarter of fy 2022-23.

Considering the last traded price of Rs. 312.5 and its 52-week high of Rs. 316.65, the gap is just a miniscule of 1.33%.

Federal Bank

The private sector bank based out of Aluva, Kochi chiefly operates through 4 divisions including Treasury, Corporate or Wholesale Banking, Retail Banking and other banking operations. Lately the bank has become the country's first bank to list payment gateway on new tax interface.

The scrip last traded at a price of Rs. 109.55, while its 52-week high is Rs. 111.95, signifying a gap of over 2%.

Bajaj Auto

The auto-2 and 3 wheelers major manufactures motorcycles, three-wheelers and parts. The Company's business segments include Automotive, Investments and Others. The company's July auto sales logged 4% YoY decline. After the latest RBI repo rate hike, Bajaj Auto is seen to be a good pick for near term gains.

Considering the scrip's last traded price of Rs. 4025 and its 52-week high of Rs. 4091, it is trading with a gap of 1.64%.