5 Stocks That Touched 52-Week High

The Indian markets ended in red during the trade on Wednesday. Nifty was down 63 points to close at 18,285.40 and Sensex was down by 208 points at 61,773.78. But we have come across five stocks of companies that reached 52-week-high during the day on NSE.

The companies are Engineers India Ltd, Elgi Equipments Ltd, KPIT Technologies Ltd, Ceat Ltd, and Mahindra CIE Automotive Ltd. The stocks of these companies reached a 52-week high during the day. The growth has been between 7% to 4%. The details are given below.

Except for KPIT Technologies, a small-cap company, all the other companies are mid-cap companies.

Mahindra CIE and Ceat Ltd are companies from the auto sector while KPIT is an IT company. Elgi Equipments operates in the electric/electronic sector and Engineers India Ltd operates in engineering consultancy and turnkey projects.

These companies have been growing consistently over the years rapidly and maintaining their balance sheets. In the last one year, the stock price of each company has surged above 80%.

However, as the markets were down today, investors should take caution. Siddhartha Khemka, the Head - of Retail Research at Motilal Oswal Financial Services Ltd, said that the "weakness in global markets dragged domestic indices down as the overhang of US debt ceiling negotiation influenced sentiments. Nifty opened lower and witnessed selling pressure throughout the session to close with a loss of 63 points at 18285 levels."

He further added, " The broader markets were mixed with Midcap 100 up 0.2% while small-cap 100 ended flat to negative. Most sectors ended in green with Pharma and Consumer Durables up 1% each. Domestic markets have paused with Nifty facing minor resistance at a higher level of 18400-450 zones. However, the overall positive structure remains intact, with a view of buying on dips. Globally, Investors would also take direction from the Fed meeting minutes to be released later today."

Disclaimer
Please note, that the above-mentioned stock information that the price has grown should be treated as informational and not an advisory to invest. These should not be construed as recommendations to either hold, buy, or sell in the stocks listed above. The article is just information and we have not done a detailed fundamental analysis. Therefore, caution is exercised and neither the author nor Greynium Information Technologies should be held responsible for losses based on a decision from the article.