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Top 4 Nifty Stocks Hit 52-Week High Today: Strong EPS & Robust Quarterly Earnings: Buy?
Amid volatile Nifty and Sensex, on weak global cues, these top 4 Nifty 50 stocks have been performing healthy in the last one year. The companies have recorded robust quarterly earnings and showing strong EPS growth those are driving the share price to zoom. Check details of the top stocks to buy, hit 52-week high today, on October 7.
Everest Industries Limited
The share price of Everest Industries Limited closed at Rs. 791.90 a piece. In the past 6 months its stock price has gained by 20.83%, and in the past 1 year, its stock price has zoomed by 78.04%. The company's net sales reported to be at Rs. 452.57 crore in Q1FY23 up by 27.51% YoY from Rs. 354.93 crore in Q1FY22. Its quarterly net profit stood at Rs. 21.20 crore in Q1FY23 up by 4.18% YoY from Rs. 20.35 crore in the same period year ago. With affirmative earnings report, the company's share price has been gaining in the stock markets.
EID Parry India Limited
EID Parry India Limited is a mid cap stock, with Rs. 10,928 market capitalization that has consistently given shareholders good returns, both in the long term and short term. Its share price closed at Rs. 620 today. In the past 6 months its stock price has gained by 29.15%, and in the past 1 year, its stock price has zoomed by 41.88%. The stock is also offering around 1.79% dividend yield now. Additionally, the company has recorded "impressive annual EPS growth of 48%, compound, over the last three years. That sort of growth rarely ever lasts long, but it is well worth paying attention to when it happens," according to a simplywall.st report. Earnings per share (EPS) is known as a company's net profit, divided by the number of outstanding shares.
Solar Industries India Ltd
With the massive succession of green energy in India over the past few years, the solar and wind energy sectors are booming. In line with that, multibagger stock Solar Industries India Ltd.'s performance in the stock markets has also been noticeable. Today, the company's share price closed at Rs. 4,139.25 a piece. In the past 6 months its stock price has gained by 37.97%, and in the past 1 year, its stock price has zoomed by 71.51%. Significantly in the past 5 years it grew sharply by 316.38% on NSE. Solar Industries India Ltd. grew as a large cap stock with Rs. 37,456 crore market cap. The company has a strong reinvestment strategy to continue its growth momentum. It also has a good Return on Capital Employed (ROCE) of 30%.
Rolex Rings Ltd.
With good financials, Rolex Rings Ltd. emerged as a multibagger stock in 2022. The company's share price closed at Rs. 2,140 a piece. In the past 6 months its stock price has gained by 69.75%, and in the past 1 year, its stock price has zoomed by 100.43%. Rolex 's net profit increased to Rs. 4,971.60 lakh in June 2022 quarter, from Rs. 3,906.30 lakh in March 2022. The small cap stock's market cap is Rs. 5,835 crore. For consistent gain, investors can watch this stock.
Disclaimer
The equity market is a highly volatile investment platform. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
