Tata Power, Vedanta, Trent, IndiGo and ICICI Bank shares hit fresh 52-week highs on BSE today

Tata Power Ltd, Vedanta Ltd, Trent Ltd, Interglobe Aviation Ltd and ICICI Bank Ltd were among eight BSE100 constituents that hit their fresh 52-week highs in Monday's trade. Others included Havells India Ltd, Divis Labs Ltd and Colgate-Palmolive. Sharp gains were seen on largecap counters, with the BSE Sensex and the NSE Nifty beating midcap and smallcap stock indices by about 50 basis points amid quarterly results.

Tata Power shares hit a fresh 52-week high of Rs 447.65 on BSE. This stock was later trading 2.19 per cent higher at Rs 446.30. Vedanta shares hit a one-year high of Rs 404.20, before cutting some gains. This stock was up 0.5 per cent at Rs 398.60.

"Vedanta's 4QFY24 performance came largely as anticipated across segments. Extending the maturity of bonds at HoldCo. by three years offers the company adequate liquidity comfort in the near term. The Capex plans are progressing well which would lead to further cost savings," Motilal Oswal Securities said.

For Trent, the intraday level Rs 4,383.85 was its record high. This stock, however, erased entire gains and was trading flattish at Rs 4,300.85. Trent is expected to report a healthy revenue growth for Q4 on back of store expansion. Axis Securities said
Ebitda margins is expected to increase on account of strong operating leverage and investors would watch out for demand outlook in metros and tier 2/3 towns ahead of festive season and guidance on store expansion.

ICICI Bank hit is 52-week high of 1,138.55. The ICICI Bank management sees the emergence of operating leverage for the bank going ahead, as opex growth trajectory is likely to moderate ahead aided by moderation in pace of employee additions and rationalisation of loan sourcing costs.

"We factor this into our estimates and build in a 14 per cent opex CAGR over FY24-26F. We also build in lower credit costs. This is slightly offset by a 1 per cent decline in NII. Our FY25-26F EPS hence sees 4 per cent hikes. We expect ICICI Bank to deliver sector-leading 2.3 per cent RoA/18 per cent RoE over FY25-26F with a 13 per cent PAT CAGR over FY24-26F. It remains our top pick in the sector," said Nomura India.

Divis Labs hit on-year high of Rs 4,104. InterGlobe Aviation hit its all-time high of Rs 3,873.50 but fell into the negative terrain. This stock was later trading 1.04 per cent lower at Rs 3,894.95. Colgate-Palmolive (Rs 2,875) and Havells India (1,671.40) 2,875.0also hit their respective record highs.