Chalet Hotels, Cochin Shipyard, Coal India, Deepak Nitrite, Indo Count, Force Motors Share Price Hits 52-week High

Chalet Hotels, Cochin Shipyard, Coal India, Deepak Nitrite, Indo Count, Force Motors Share Price Hits 52-week High

Deepak Nitrite, Coal India, Force Motors, Godrej Industries, Graphite India, Havells India, Hindustan Aeronautics, HCL Technologies, Indo Count Industries, IndusInd Bank, LTIMindTree, Minda Corporation and Tech Mahindra were among popular stocks that touched 52-week high on Friday. Many companies have been on investors’ radar and with better performance in quarterly results, these companies have been rewarded with higher valuations in stock markets. Indian markets closed positive on Friday while US stocks were still under pressure.

Chalet Hotels touched yearly high of Rs 568 and the stock closed the session at Rs 566, gaining nearly 3.7 percent. Coal India touched yearly high and the stock closed at Rs 281. Among other popular stocks touching 52-week highs were Tech Mahindra and HCL Technologies. Tech Mahindra touched 52-week high of Rs 1278 but the stock closed 0.6 percent lower. HCL Technologies closed at Rs 1262 after touching 52-week high of Rs 1269.

Deepak Nitrite touched 52-week high of Rs 2372 but the stock closed one percent lower at Rs 2317. Deepak Nitrite has offered decent returns to medium and long term investors. Market experts believe that the stock could see medium term weakness due to pressure on margins. TopNews earlier reported about Analysts’ view on Deepak Nitrite. The stock was on BUY list of many fund managers but it has already achieved the target price. We could see higher levels on this counter but there is also a risk of downside. Investors should be cautious.

Among real estate companies, DLF, Oberoi Realty and Kolte - Patil Developers touched yearly highs. Real estate companies have witnessed strong demand and prices have gone up in the recent quarters. These companies are expected to report good quarterly numbers. Medium term investors should keep an eye on some of the best performing real estate developers.

Indo Count Industries touched 52-week high of Rs 255 but the stock closed lower at Rs 247.

IndusInd Bank and IDBI were among banking counters that touched yearly high. IndusInd has rewarded medium term investors with good returns.

Among other stocks that touched yearly highs on Friday were Gujarat Pipavav Port, Grauer & Weil, Heubach Colorants India, Himatsingka Seide, HT Media, IDBI Bank, Jindal Stainless, Kolte - Patil Developers, Lemon Tree Hotels, Mazagon Dock Shipbuilders and Persistent Systems.

Markets are currently overheated and valuations are high. Still, bullish sentiment has been witnessed over the last few weeks. The outlook for Indian markets and overall economy is positive and this has been one of the main factors for continued strength in Indian equities. We could see a strong correction in Indian equities in case the US and global market sentiment turns negative. In short term, the trend in local markets is positive.

All investments in stocks should be made after conducting due-diligence. Stock markets can offer higher yields compared to other investing options but the risk is also high. Long term investments in stock markets generally outperform other investment streams in case the investment is made in reliable companies with strong performance and stellar management. TopNews provides information for investing community but due diligence should always be conducted before making investment decisions.

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