SBI, Eicher, L&T, Shriram Finance hit new peaks; ONGC, NTPC at 52-wk highs

NTPC and Oil and Natural Gas Corporation (ONGC) from the Nifty 50 touched their respective 52-week highs.

Shares of State Bank of India (SBI), Larsen & Toubro (L&T), Eicher Motors and Shriram Finance from the Nifty 50 hit new life-time highs on the National Stock Exchange (NSE) in Thursday’s intra-day trade in an otherwise weak market. Meanwhile, NTPC and Oil and Natural Gas Corporation (ONGC) from the index touched their respective 52-week highs.

 

Astral, APL Apollo Tubes, Hitachi Energy India, Indian Oil Corporation Limited (IOCL), Indus Towers, Kirloskar Oil Engines, Max Financial Services, Steel Authority of India (SAIL) and ZE Commercial Vehicle Control System India from the Nifty 500 index hit their respective 52-week highs, data shows. 

 

 

These stocks have rallied up to 8 per cent on the NSE in intra-day trade. In comparison, the Nifty 50 was down 0.50 per cent at 25,822.10 at 11:31 AM.

 

Among individual stocks, Kirloskar Oil Engines (KOEL) soared 8 per cent to ₹1,434.90 after the company delivered its highest-ever third-quarter sales, driving record year-to-date performance.  The company reported 35 per cent year-on-year  (YoY) growth in net sales at  ₹1,371 crore in the December 2025 quarter (Q3FY26). Net profit jumped 80 per cent YoY at  ₹102 crore, as against ₹57 crore in Q3FY25.

 

With sustained strength in B28 and positive momentum in the industrial segment, the management said the company is well positioned for the remainder of FY26. Backed by a strong product pipeline and steady progress on expansion plans, the management remains confident of its long-term growth strategy and commitment to sustainable value creation.

 

KOEL is a leader in the manufacturing of generator sets, internal combustion engines and farm equipment with a sizable presence in international markets.

 

Eicher Motors hit a new high of  ₹7,915, gaining 2 per cent on the NSE in intra-day trade. In the past two trading days, the price of the parent company of Royal Enfield (RE), a global manufacturer of middleweight motorcycles, has rallied 9 per cent after the company’s Q3FY26 standalone earnings before interest, taxes, depreciation and amortisation (EBITDA) margin came in at 26.6 per cent, 160bps higher than analysts' estimates.

 

Eicher Motors is entering a phase of improving operating leverage and profitability driven by scale benefits, disciplined pricing, & value engineering despite moderate commodity pressures, according to analysts at ICICI Securities.

 

With sustained double-digit volume growth in Royal Enfield, dominant positioning in the mid-weight motorcycle segment, improving profitability through operating leverage and a strong growth outlook for VECV arm, the brokerage firm said they continue to assign BUY rating on the stock with a target price of  ₹9,100 per share. Eicher Motors has a capital efficient business model & cash positive balance sheet, it said.

 

Meanwhile, the stock price of the public sector bank, SBI continued its upward movement, hitting a new high of  ₹1,203.70, up nearly 2 per cent. In the past four trading days, the stock has rallied 13 per cent after the state-run bank reported strong Q3 earnings.

 

SBI’s management has revised its growth guidance upwards to 13-15 per cent vs 12-14 per cent  earlier, supported by the broad-based growth trends visible so far. The Retail, Agriculture, and MSME (RAM) segment has seen continued healthy growth, while the corporate book has seen a decisive revival in growth and is expected to deliver a healthy double-digit growth going into the March 2026 quarter (Q4).

 

Overall, the management remains upbeat on growth momentum sustaining, driven by Income Tax cuts, GST rate rationalisation, Trade Deals, and Budgetary push, with SBI well-positioned to capitalize on these opportunities, analysts at Axis Securities noted. The brokerage firm has a ‘Buy’ rating on SBI with a target price of  ₹1,280 per share.

 

On Shriram Finance, Axis Securities also maintains a ‘Buy’ rating with a target price of  ₹1,200 per share. The stock price of the non-banking finance company hit a new high of  ₹1,080.50, up 2 per cent on the NSE in intra-day trade.

 

Going into Q4, the management of Shriram Finance remains optimistic about growth momentum sustaining and Q4 disbursements being meaningfully better than Q3. Overall, the management does not expect any material change in the AUM mix over the medium term, reinforcing its growth strategy within existing product segments, and has guided for AUM growth to range between 18-20 per cent over the next 2-3 years, Axis Securities said.  ===========================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.