375 non-A group stocks hit 52-week high

Of 375 stocks that hit 52-week highs about 297 stocks appreciated over 100% from their 52-week lows.

A one out of seven stocks from the BSE non-A group have touched their respective 52-week highs on the BSE in intra-day trade today even though the benchmark index is struggling to gain.

Out of 2,707 total 375 stocks from the BSE non-A group touched 52-week highs. The S&P BSE Sensex was ended lower by 43 points at 25,580, while the S&P Midcap & Smallcap indices gained 1% each today.

Including Reliance Infrastructure, Natco Pharma, Indraprastha Gas, Arvind and JSW Steel total 14 companies from ‘A’ group hit their respective 52-week highs.

Shares of the companies engaged in hotel business such as Royal Orchid Hotels, TAJGVK Hotels & Resorts, Jindal Hotels, Viceroy Hotels and Mac Charles (India) hit 52-week highs after Goldman Sachs has bought minority stake in Indian hotel investment and development firm SAMHI Hotels.

Goldman Sachs has invested Rs 441 crore to pick up an equity stake in Gurgaon-based SAMHI Hotels, a company with a portfolio of 16 operational and 10 upcoming hotels under brands such as Marriott, Sheraton and Hyatt, the Business Standard report suggests.

Shares of breweries companies such as GM Breweries, Khoday India, Jagatjit Industries, IFB Agro Industries and Ravikumar Distilleries, packaged foods like DFM Foods and Tasty Bite Eatables hit 52-week highs.

Interestingly, of these total 389 stocks that hit 52-week highs as many as 297 stocks have become multi-baggers and their market price appreciated more than 100% from their 52-week lows.

GM Breweries, Cambridge Technology Enterprises, Pioneer Distilleries and Ivee Injectaa zoomed more than 1000% from their 52-week lows.