2 Stocks jump to reach a new 52 week high; Are you holding any?

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2 Stocks jump to reach a new 52 week high;  Are you holding any?
Credit: © Reuters.

Domestic benchmark indices extended gains into the third straight day as global markets bounced back. BSE Sensex surged 787 points, or 1.3% to end at 60,747, while broader NSE Nifty 50 shut shop at 18,011, up 225 points or 1.26%.

Amid the soaring markets, here are two stocks that have reached their 52-week high:

Dabur India (NS: DABU ) Limited

The shares of Dabur India gained more than 2 percent till the afternoon on Wednesday and reached its 52-week high of Rs 610.75. In the past month, the stock has added approximately 10 percent.

The shares shined after Global research firm Morgan Stanley (NYSE: MS ) upgraded its stock and raised its target to Rs 660 per share (an upside of 9% from the current levels) citing a recovery trend in rural demand for the products of the company.

In addition to this, the company also plans to enter the feminine care market in India. The FMCG major will foray into the market under the Fem brand and compete with the existing companies that include Procter & Gamble, Johnson & Johnson, and Unicharm.

Dabur India is one of the leading fast-moving consumer goods (FMCG) players and stands as India’s most trusted name and the world’s largest Ayurvedic and Natural Health Care Company with a portfolio of over 250 Herbal/Ayurvedic products.

Ircon International Limited

The shares of Ircon International opened higher and gained 1 percent to reach a new 52-week high of Rs 66.75 in the early hours of Wednesday. In the past five days, the stock has gained more than 9 percent.

The stock climbed up to make a new high after the company reported that it has received an order worth Rs 122 crore from Sri Lanka railways. The company is responsible for the procurement of design, installation, testing, commissioning, and certification of signaling and telecommunication systems for the railway.

Similar to other railway stocks, Ircon has gained approximately 30 percent in the span of a month while scaling more than 68 percent in the span of six months.

Ircon International, a wholly-owned subsidiary of the Indian Railways, is an engineering & construction corporation, specializing in transport infrastructure.

Written By – Anoushka Roy

The post 2 Stocks jump to reach a new 52 week high; Are you holding any? appeared first on Trade Brains.

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