18 Stocks that have hit their 52-week high

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18 Stocks that have hit their 52-week high

This article was posted on Oct 5, 2008 and is filed under Press Releases

Here are the 18 stocks that have hit their 52-week high and are also frequentlytraded.

1.Apeego: The obscure Mumbai-based readymade garment manufacturer has risen 25.8%since late August 2008 till 26 September 2008 after scheduling a board meet to considerissue of bonus shares. It declared a liberal 1:1 bonus (one bonus share of face value Rs10 for every share held) was announced. The scrip is traded in the ‘Z’ group.Its latest networth is a negative Rs 1.29 crore.

2.Asian Tea & Exports: The small-cap tea producer and exporter gained momentumafter its board of directors at approved sub-division of each share of Rs 10 into 10shares of Re 1 each on 27 August 2008. The stock spurted a whopping 218.79% in the year to26 September 2008. The average daily traded volumes on the counter surged to 2.31 lakhshares in a fortnight to 26 September 2008 as compared with average daily volumes of26,066 shares in the past year. After the runaway rally, the stock trades at a high P/E of202 based on its TTM EPS of Rs 0.55 — way above the P/E of 22.4 for the tea industry.The scrip is traded in the ‘B’ group.

3.Auroma Coke: The Kolkata-based producer and marketer of coke and residual productssoared 139.56% in one month to 26 September 2008 after turnaround results for Q1 June2008. Net profit was Rs 0.14 crore in Q1 June 2008 compared with a net loss of Rs 0.90crore in Q1 June 2007. The scrip, trading in the ‘Z’ group on the BSE, is quotedat P/E of 14.41 based on its TTM EPS of Rs 1.21.

4.Axis IT&T: The Delhi-based engineering services provider logged a sizeable118.37% spurt in the past one year to 26 September 2008 after the Bangalore-based TayanaSoftware Solutions signed a share purchase agreement on 11 January 2008 to acquire amajority 60.69% equity stake in Axis IT&T. Subsequently, Tanya Software launched anopen offer for a 20% stake at Rs 19.59 per share. Tayana was able to add a mere 0.15%stake through the open offer. Axis IT&T has been consistently reporting losses sincethe last seven consecutive years from 2002. The scrip is currently traded in the‘T’ group on the BSE.

5.Brushman (India): The New-Delhi based marketers of global beauty, skin and haircarebrands as well as manufacturer of paintbrushes is said to be in active discussions toacquire a strategic stake in paint maker Snowcem Paints. Its board of directors on 1September 2008 recommended a maiden dividend of 5% in the year ended March 2008 (FY 2008).All these developments resulted in the stock logging a 66.54% gain in calendar 2008. Thecompany’s foreign holding of 26.59% end June 2008 was spread among Arisaig Partners(Asia) Pte, Denman International U K, Keune Holding B V Holland, Lionhart Investment, RosyBlue Securities and Taib Securities Mauritius. The scrip, trading in the ‘S’group, commands a P/E multiple of 21.45 based on its TTM EPS of Rs 5.45.

6.Gemstone Investments: The Mumbai-based investment and consumer financeservices company surged 138.36% in the year to 26 September 2008, following theannouncement of ambitious expansion plans. On 29 August 2008, the company decided to raisefunds via preferential issue by allotting up to 60 lakh convertible equity warrants of Rs10 each to various allottees. A number of brokerages hold a large 39.72% chunk in thecompany. Promoters have almost exited, with their holding tumbling to a mere 1.24% endJune 2008 from 74.65% end December 2004. Trading in the ‘Z’ group on the BSE,the company posted negligible profit in the June 2008 quarter.

7.Glodyne Technoserve: The Mumbai-based information technology services providerrallied 200.10% in the year to 26 September 2008 on a consistent 25% sequential growth innet profit in the last four quarters. In September 2008, its arm Smaarftech Technologiesbagged a Rs 284-crore order from Bihar State Electronics Development Corporation forexecuting a turnkey technology project for implementing the National Rural EmploymentGuarantee Scheme in the state. The stock, trading in the ‘B’ group on the BSE,commands at a P/E multiple of 16.05 based on its TTM EPS of Rs 38.19.

8.Glory Polyfilms: The Mumbai-based packaging company galloped 146.16% in the threemonths to 26 September 2008 after its board on 3 July 2008 decided to issue 16 lakhwarrants instead of the 26 lakh warrants proposed earlier. The warrants, convertiblewithin 18 months into equity shares of Rs 10 each, were issued to other five non-promotersand promoter entities/individuals at a price of Rs 108 each. The company is yet to rewardshareholders through dividend or bonus. The stock, trading in the ‘B’ group,commands a high P/E multiple of 59.26 based on its TTM EPS of Rs 2.38 as compared with18.2 of the packaging industry.

9.Goodluck Steel: The Delhi-based steel maker came in to the spotlight after itsurged 93.54% in the three months to 26 September 2008 after another listed company, BiharTubes, mopped up 5.07 lakh shares, or 13.73% equity stake, through four bulk deals on theBSE from April 2008 to September 2008. Promoters held a 69.66% stake end June 2008. Theshares, trading in the ‘Z’ group on the BSE, are quoting at a P/E multiple of14.96 based on the TTM EPS of Rs 26.68.

10.Indusvista Ventures: The Mumbai-based firm engaged in research, promotion andmarketing of art and artwork skyrocketed 171% in the three months to 26 September 2008,boosted by Saffron Capital Advisors’ open offer to acquire 7.13 lakh equity shares,representing 20% of the paid-up capital, at a price of Rs 25.50 per share payable incash. The offer will remain open from 31 October 2008 to 19 November 2008. The scrip istraded in the ‘T’ group on the BSE.

11.Jaipan Industries: The small-cap manufacturer of various home applianceshogged the limelight, soaring a massive 1631.87% in the one year to 26 September 2007. Itwas the biggest gainer from the list of 44 stocks hitting 52-week highs. The rally caughtmomentum, with the stock locked at the 5% upper circuit filter for 34 consecutive sessionsfrom 13 August 2008 to 26 September 2008, after scheduling a board meet on 6 October 2008to decide on raising equity by issue of global depository receipts (GDR)/ foreign currencyconvertible bonds (FCCBs). Post the astronomical surge, the stock, trading in the ‘Tgroup on the BSE, is commanding a steep 157.04 P/E multiple based on its TTM EPS of Rs1.52. It has yet to declare dividend.

12.Koffee Break Pictures: The Mumbai-based media firm gained 57.43% in the threemonths to 26 September 2008 on turnaround results and expansion. Promoters reduced theirholding in the stock to a mere 6.05% end June 2008 from 37.01% end September 2005. Thescrip, trading in the ‘T’ group on the BSE, is quoting at a high P/E multiple of35 based on its TTM EPS of Rs 1.05

13.Lakshmi Energy: The Chandigarh-based food processing company rose 10.61% in themonth to 26 September 2008 after entering into a power purchase agreement with PTC Indiaon 13 September 2008 for selling green power generated from its biomass-based 30-megawattpower plant for of five years. Holdings of promoters foreign and non-promoter corporateswere 42.08%, 39.21% and 10.63%, respectively, end June 2008. The scrip trades in the‘B’ group at a P/E multiple of 13.76 based on its TTM EPS of Rs 20.41.

14.Maharashtra Polybutenes: The Mumbai-based polybutenes manufacturer spiraled 906.61%in the three months to 26 September 2008 on adjustment after its shares started tradingpost 95% capital reduction as per the Board for Industrial and Financial Reconstruction(BIFR) order. The company posted losses in 12 of the past 13 years. The latest sharecapital is Rs 0.82 crore. Pursuant to the BIFR order, it allotted 1.47 crore equity sharesof Rs 10 each to the promoters, their associates and others. Promoter holding dipped from51.95% end December 2005 to 12.34% end June 2008. It is yet to reward shareholders throughdividend or bonus. The scrip trading in the ‘B’ group of the BSE.

15.Richa Industries: The Faridabad-based integrated textile company engaged in cottonknitted segment climbed up 450.27% in the year to 26 September 2008 on mega expansionplans. It plans to foray into the infrastructure segment by setting up a Rs 125.50-crorepre-engineered building infrastructure project in Uttarakhand to make steel structures.The company is yet to reward shareholders through dividend or bonus. The stock, trading inthe ‘B’ group, quotes at a P/E multiple of 16.73 based on its TTM EPS of Rs6.15.

16.Simplex Trading & Agencies: The Mumbai-based financial and leasing servicesprovider jumped 202.04% in the month to 26 September 2008 after its board of directors on18 August 2008 approved issue of a highly liberal 4:1 bonus shares (four bonus shares offace value Rs 10 each for every one held). Promoters have almost exited the company, withtheir holding tumbling to a minuscule 0.07% end June 2008 from a sizeable 93.32% endDecember 2006. Besides, the company posted negligible profit in the June 2008 quarter. Thestock is traded in the ‘Z’ group on the BSE.

17.Victory Projects: The Hyderabad-based construction firm’s shares jumped 67.17%to 26 September 2008 after its board of directors on 16 September 2008 decided to issue 12lakh equity share warrants convertible into equity shares on a preferential basis to thepromoters and other selected independent subscribers. Promoters held a 24.90% stake endJune 2008. The company is yet to reward shareholders through dividend or bonus. The stock,trading in the ‘B’ group, commands a P/E multiple of 13.01 based on its TTM EPSof Rs 2.11.

18.Vishal Information Technologies: The Chennai-based software company spurted 82.15%to Rs 353.65 till 26 September 2008 since its listing on 11 August 2008. It scheduled aboard meet on 1 October 2008 to consider acquisitions of one or more firms in the UK andEurope and raising funds through GDRs or external commercial borrowings (ECBs) / issue ofdebentures or debt in any form. Day traders have been active on the counter in the‘B’ group of the BSE. This is evident from low average deliverable volumes of6.27%.

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