Big 52-Week High / Low stories of Apr-21

With the API story building up and global players looking at Indian pharma for supplies, a host of pharma players touched 52-week highs.

May 03, 2021 08:05 IST India Infoline News Service

The 52-week high/low numbers are not only interesting at a stock-specific level but also give important hints as a trend. As the ratio of 52-weeks highs to 52-week lows expands, it is a signal of market strength and breadth. Now for the April-21 specifics.

If you look at the 52-week highs, there is a concentration of sugar stocks. In Apr-21, Andhra Sugars, Avadh Sugars, Balrampur Chini, Dalmia Bharat, Dhampur and Dwarikesh touched new highs. Sugar rally was triggered by a combination of good demand, export subsidies and the massive ethanol opportunity.

With the environmental restrictions in China, Indian specialty chemicals are seeing a world of opportunity before them. In April, specialty chemical companies like Aarti Industries, Deepak Nitrite, Meghmani Organics, Rossari Biotech, SRF and Supreme Petrochem were among the stocks touching 52-week highs.

With the API story building up and global players looking at Indian pharma for supplies, a host of pharma players touched 52-week highs. This included Ajanta Pharma, Divi’s Labs, Jubilant Ingrevia, Lyka Labs, Morepen and Sequent Scientific.

The stocks touching 52-week lows were just too few to make a material difference. The 52-week highs outnumbered the 52-week lows in April; indicative of underlying strength in the markets.

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