L&T, Jet Airways, SAIL among 37 stocks from BSE500 index hit 52-week high

January 03
16:25 2018
Larsen & Toubro (L&T), Adani Enterprises, Jet Airways (India), Steel Authority of India (SAIL), Hindalco Industries, Jindal Steel & Power (JSPL) and Tata Power Company were among 37 stocks from the S&P BSE 500 index hitting their respective 52-week highs on Wednesday.

Graphite India, HEG, Jai Corp, GHCL, L&T Technology Services (LTTS), Jubilant FoodWorks, Tech Mahindra, Tata Chemicals, NMDC and NOCIL too hit 52-week highs today.

L&T hit 52-week high of Rs 1,279, up 2%, surpassed its previous high of Rs 1,275 touched on December 27, 2017 on the BSE in intra-day trade. In past one week, the company has received orders worth of Rs 9,634 crore in various segments.

Jet Airways hit fresh 52-week high of Rs 873, up 5% on the BSE in intra-day trade. In past one month, the stock surged 36% against 3% rise in the S&P BSE Sensex.

While announcing September quarter results, on December 7, the company had said it undertaken various initiatives in relation to cost synergies, revenue management opportunities, enhanced ancillary revenues have resulted in significant improvement in operating cash flows.

“Further, the company’s thrust to improve operational efficiency and initiatives to raise funds are expected to result in sustainable cash flow,” Jet Airways said in a note.

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