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Why These 3 Popular Stocks Hit 52-Week High In Today's Trade?

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The major indices were extremely volatile in Tuesday's session, with the Sensex and Nifty oscillating between gains and losses. While banking stocks fell, dragging the indices down, support came from FMCG, IT, and real estate companies.

 

The BSE Sensex reached a high of 58,779 and a low of 58,352 during the day. Meanwhile, the Nifty50 moved back and forth between 17,400 and 17,500. The volatility index increased by 2%.

Why These 3 Popular Stocks Hit 52-Week High In Today's Trade?

NDTV

Shares of New Delhi Television Limited (NDTV) were trapped in the 10% upper circuit range for the second day in a row, closing at Rs 87.60 on the BSE amid rumors of an Adani Group purchase.

The stock is currently trading at a 52-week high, having surpassed the previous high of Rs 85.85 set on May 25, 2021. It has gained 21% in the last two trading days, compared to a 0.61 percent drop in the S&P BSE Sensex. Stock generated 131.79 percent over three years, compared to 50.53 percent for the Nifty Smallcap 100.

HCL Tech

HCL Technologies' stock hit a new high of Rs 1,315.10 in intra-day trade on Tuesday, up 3% on the BSE, after the company announced a five-year digital transformation agreement with MKS Instruments.

 

The stock of an information technology (IT) consultancy and software firm has risen 18% in the last month, compared to a 6% rise in the S&P BSE Sensex. Over a three-year period, the stock returned 135.26 percent, while the Nifty IT provided investors a 121.9 percent gain. The stock returned 135.26 percent over three years, compared to 55.35 percent for the Nifty 100.

Hindustan Unilever

Hindustan Unilever (HUL) was trading at a new 52-week high of Rs 2,848, up over a percent.

Since the beginning of the calendar year, the Nifty has increased by more than 25%, while the FMCG index has increased by more than 19%.
The stock returned 72.72 percent over three years, compared to 55.35 percent for the Nifty 100 index. Over a three-year period, the stock returned 72.72 percent, while the Nifty FMCG provided investors a 33.82 percent return.
Motilal Oswal, a domestic research and broking business, has a "buy" call on the stock, with a target price of Rs 3,280 per share, a 15% increase from the current level.

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