5 Quality stocks Trading Near 52-Week High, Should You Buy Them?

The market this week has seen an upside-down. Domestic equity market posted good gains on Monday however, today the Sensex fallen 450 points in early trade. The benchmark indices for India opened lower on Tuesday due to choppy and mixed global cues as well as hawkish remarks from the US Federal Reserve that suggested aggressive monetary tightening would continue. Despite the fall in the market, these 5 stocks from different sectors hit their 52-week high this week. Here we have listed these 5 stocks with the key details:

1. Anand Rathi Wealth Limited

Anand Rathi Wealth's current market price is Rs 753.55/share on NSE, trading 1.98% down from its 52 week high. The stock touched the fresh 52 week high at Rs 768/share on 10 January 2023, while its 52 week low it recorded on 24 February 2022 at Rs 542.05/share. 

The stock surged 6.99% in the last 1 week. It surged 8.65% in the last 1 month, and 14.04% in the last 33 months, respectively. In the last 1 year, it has given 19.74%. 

About The Company

Anand Rathi is an AMFI-registered mutual fund distributor and is one of the leading non-bank wealth solutions firms in India. The company offers a wide product portfolio of wealth solutions, financial product distribution, and technology solutions to its clients. It is a small-cap company with a market capitalisation of Rs 3,158.72 crore. 

2. REC Ltd

The current market price of REC on NSE is Rs 122.85/share. The stock is trading 2.77% down from its 52 week high. The stock's 52 week high is Rs 126.25/share recorded on 9 January 2023. Its 52 week low is Rs 82.24/share recorded on 20 June 2022. 

The stock surged 10.17% in the last 1 month and 32.26% in the last 3 months, respectively. In the last 1 year, it has given 17.06% positive returns. It gave 15.29% in the last 3 years and 1.02% in the last 5 years, respectively

About The Company

REC is a Central Public Sector Undertaking (CPSU) under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution. It is a midcap PSU Stock with a market capitalisation of Rs 32,533.48 crore. 

3. Jindal Steel & Power Limited

The stock of Jindal Steel is currently trading at Rs 598.45/share on NSE. It is trading 1.66% away from its 52 week high. Its 52-week high is Rs 608.40/share, which it recorded today, 10 January 2022. Its 52 week low is Rs 304.20/share recorded on 22 June 2022. 

The stock gave 9.68% in the last 1 month and 34.08% in the last 3 months, respectively. It gave 48.07% in the last 1 year. It gave 238.89% multibagger returns in the last 3 years. In the last 5 years, it gave 128.14% multibagger returns. 

Should You buy?

Leading brokerage firm ICICI Securities in its January 2, 2023 report has placed a buy on the stock with a target price of Rs 750/share. The brokerage has said, "Despite our estimates of realisation remaining range-bound through to FY25E, we raise our FY24E EBITDA by 24% taking cognizance of higher volumes and cost efficiencies. We value JSPL at 6x FY24E EBITDA resulting in a revised target price of Rs750/share (earlier: Rs605). Maintain BUY."

About The Company

Jindal Steel & Power is in the steel, power, mining and infrastructure sectors. The company is one of India's leading steel producers with a significant presence in sectors like mining and power generation. It is a large-cap company with a market capitalisation of Rs 61,026.77 crore. 

4. Power Finance Corporation Limited

The stock on NSE is currently trading at Rs 155.45/share, 4.08% away from its fresh recorded 52 week high. Its 52 week high was recorded on 9 January 2023 at Rs 161.80/share. While its 52 week low is Rs 97.10/share recorded on 20 June 2022. 

The stock has given 9.94% in the last 1 month and a massive 49.64% in the last 3 months, respectively. It gave 23.96% positive return in the last 1 year. It gave 28.24% positive returns in the last 3 years. It gave 25% positive returns in the last 5 years. 

Power Finance Corporation Limited is a Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company. It is Public Sector Undertaking (PSU) under the ownership of the Ministry of Power, Government of India. With a market capitalisation of Rs 41,040.07 crore, it is a midcap PSU company.

5. Techno Electric & Engineering Company Limited

The stock is trading at Rs 155.95/share on NSE. The stock is trading 2.98% away from its 52 week high. Its 52 week high is Rs 376.80/share recorded on 9 January 2023 and its 52 week low is Rs 224 /share recorded on 7 March 2022, respectively.

The stock has given 5.63% positive return in the last 1 week. It gave 13.68% in the last 1 month and 30.39% in the last 3 months, respectively. It has given 41.19% positive return in the last 1 year and 27.13% positive return in the last 3 years, respectively. Since its listing date on 4 December 2018, it has given 26.66% positive returns. 

Should You buy?

Leading brokerage firm ICICI Securities has placed a buy on the stock in its December 28, 2022 report. In the report the brokerage has stated, "We expect the company to benefit with growth in order inflow led by expected data centre capex in the country. We remain positive on TEEC with its asset-light business model (EPC RoCE 60% in FY22), strong orderbook (OB) with 3.2x book/bill and strong balance sheet with cash of Rs12bn. We incorporate equity value of Chennai data centre (expected equity IRR of ~12%) and arrive at a revised SoTP-based TP of Rs490 (earlier: Rs461); maintain BUY on the stock."

About the Company

Techno Electric & Engineering Company is a power-infrastructure company. The company is engaged in providing Engineering, Procurement and Construction (EPC), asset ownership and operations and maintenance services in the power infrastructure industry. It is a small-cap stock with a market capitalisation of Rs 3,962.57 crore 

Disclaimer

The stock has been sourced from NSE. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before making any investment decision.