Charging Ahead! 169 BSE stocks hit fresh 52-week highs; Bajaj Auto, Tata Motors, Titan on the list

Domestic equities rose on Friday amid positive global cues and better-than-expected GDP data. On BSE, 169 stocks hit fresh 52-week highs and gave handsome returns to investors. This includes the performance of stocks across largecaps, midcaps and smallcaps.

Of the 169 stocks, 19 belong to largecaps, and these include Power Finance Corporation, DLF, Tata Motors, Titan, Persistent Systems, Indian Hotels, Bajaj Auto, Britannia, and Tata Motors (DVR).

Apart from these stocks, newly listed Mankind Pharma also touched its 52-week high.


Among midcap stocks, Cyient, Titagarh Wagons, Zensar Tech, KPIT Technologies, Minda Corp, KEI Industries, Metro Brands, Trent and Polycab India hit their 52-week highs today.

Shares of Aditya Birla Capital (ABCL) rallied 3% and hit a 52-week high of Rs 177 after the company’s board approved preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, out of the total approved equity fundraise of up to Rs 3,000 crore.

Tata Motors hit a 52-week high of Rs 541.1 on BSE as auto major reported May 2023 CV volumes of 28,989 units, up 28.9% MoM.

After the May auto sales data, brokerage firm LKP Securities said, "We witnessed a stronger May as compared to April for 2Ws and PVs. PVs witnessed a faster easing of chip shortage issue in May, which we expect to witness going forward too, while 2Ws gained strength on the low base of last year, marriage season, positive sentiments and both ICE and EV launches."

"We remain positive on the sector. However, our choice is in the following order –PVs, 2Ws and CVs. Stocks specifically, within the 2Ws, we like Bajaj Auto as we expect a bounce back of exports 3-4 months down the line as the $ scenario may improve in Africa. Also, the EV strength gained from Chetak and the upcoming launch of e-3W can be additional positives," it said.

LKP Securities further stated, on the PV side, it likes M&M because of its thrust on rural markets through its leadership in the tractors business, prudent capital allocation and a robust growth strategy in UVs, EVs and CVs. “We also like MSIL on the PV side because of its wide portfolio of vehicles and inroads into the SUV industry,” it said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)