scorecardresearchDespite market volatility, five stocks have reached all-time highs

Despite market volatility, five stocks have reached all-time highs

Updated: 28 Jul 2022, 09:02 AM IST
TL;DR.
In a highly volatile market, five stocks have managed to hit their all-time highs. Stocks include Navin Fluorine, Adani Enterprises, Timken India, Aster DM Healthcare, and Gujarat Fluorochemicals.
During these uncertain times, five stocks have managed to hit their all-time highs. Stocks include Navin Fluorine, Adani Enterprises, Timken India, Aster DM Healthcare, and Gujarat Fluorochemicals.

During these uncertain times, five stocks have managed to hit their all-time highs. Stocks include Navin Fluorine, Adani Enterprises, Timken India, Aster DM Healthcare, and Gujarat Fluorochemicals.

Amid volatility in the global markets ahead of the US federal reserve meeting, the Indian equity markets closed lower for a second straight session. The Fed policymakers anticipate a 50 or 75 basis point hike in July.

The Nifty50 ended with a loss of 147 points, or 0.88%, at 16,483.85, while the Sensex closed at 55,268.49, down 498 points, or 0.89%.

Brent crude oil futures traded flat after losing gains and ended in the red on Tuesday. The Indian rupee settled at 79.78 against the US dollar.

Further, the IMF slashed India's FY23 GDP forecast to 7.4% from 8.2%, a down of 80 basis points. However, it is marginally higher than the Reserve Bank of India's (RBI) latest estimate of a 7.2% growth rate for FY23.

In a highly volatile market, five stocks have managed to hit their all-time highs. Stocks include Navin Fluorine, Adani Enterprises, Timken India, Aster DM Healthcare, and Gujarat Fluorochemicals.

Shares of Timken India repeatedly touched new highs in the last few trading sessions and hit an all-time high of 2,935.5 on the BSE in Tuesday's trade. The stock price went from 2,541 to 2,896.15 in the last 10 trading sessions, delivering a return of 13.97 per cent.

In Q4, Timken's net profit surged 128.87 per cent YoY to 121.30 crore, which is one of the highest in the industry, Trendlyne data showed. For the fiscal year ending March 31, 2022, Timken has reported a two-fold jump in its consolidated net profit at 327.1 crore. It reported a net profit of Rs. 143.2 crore in FY21.

On the financial ratio front, it delivered an ROE of 19.74% in the year ending March 31, 2022, outperforming its five-year average of 14.46%. The return on capital employed increased from 13.54 per cent to 25.06 per cent year on year.

On June 30, 2022, JM Financial initiated coverage on Timken with a 'buy' rating and a target price of 2,700.

The other stock which hit a new high was Gujarat Fluorochemicals. The stock hit an all-time high of 3,483.8/share on the BSE in Tuesday's trade. The stock rose for three consecutive trading sessions.

As per Trendlyne, the company's net profit of 218.5 crore and operating revenue of 1,073.8 crore in the March quarter was one of the highest in the industry.

The stock gained more than 104.3% in one year. Year to date, it is up 32.39 per cent. At the time of writing, the stock was trading at 48.47 times its trailing 12-month EPS of 71.38 per share and 8.94 times its book value.

Similarly, shares of Adani Enterprises hit an all-time high of 2,568.5 in Tuesday's trade. The company commands a market capitalization of Rs. 2,90,580. It has an EPS of 6.81 and a price to earnings of 372.47(x).

The stock returned 1841.37% over a three-year period, while the Nifty 100 returned 48.25%. Over the last five years, the stock price has surged from around 138 to 2,559.70 levels, logging a near 1,754.34 per cent rise in this period.

The share price of Aster DM Healthcare Ltd. gained 4.54 per cent to end at 229.45 in Tuesday's trading session. The scrip hit a new high of 237.45 during the session. From its 52-week low of 148.4, the stock has gained 52.38 per cent. On the technical charts, the stock is trading 21.20% higher than its 200-DMA.

In the March 2022 quarter, the company's consolidated net profit more than doubled to 246 crore, up from 117 crore in the January-March period of the 2020–21 fiscal year.

As of 31-Mar-2022, promoters owned 37.8 per cent of the company, while FIIs owned 11.4 per cent and mutual funds 9.62 per cent, and the general public owned 40.57 per cent.

Meanwhile, Navin fluorine touched an all-time high of 4336.90 after the company announced strong Q1 results. In the last three trading sessions, the stock rallied 12.01% to 4,242.35 from 3,787.85.

The company reported a consolidated net profit of 74.45 crore, an increase of 33.2%. EBITDA grew 28% to 99.1 crore in Q1 FY23 from 77.7 crore in Q1 FY22.

JM Financial initiated a "buy" call on the stock with a target price of 5,090/share, which hints toward an upside potential of 20% from its previous closing price.

Promoters held a 29.7 per cent stake in the company as of June 30, 2022, while FIIs owned 23.35 per cent and DIIs 18.86 per cent.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.

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First Published: 28 Jul 2022, 09:02 AM IST