22 of top 500 stocks need up to 200% rally to revisit 52-week highs!

NEW DELHI: Despite Friday's fall, the BSE500 index needed just 5 per cent to revisit its 52-week high of 25,454.92. But there were at least 318 index constituents that required at least 20 per cent rally to reclaim their one-year highs. 22 of these stocks were required to multifold if they were to revisit their peaks, data compiled from corporate database AceEquity suggests.

At Friday's close of Rs 243.55, Dilip Buildcon required a 207 per cent surge to revisit its October 2021 high of Rs 749.30. The company has been reporting losses quarter after quarter.

In the June quarter, it reported a consolidated loss of Rs 53.94 crore. It also posted a loss of Rs 55.51 crore in March quarter and a loss of Rs 19.16 crore in December quarter.

Tanla Platforms needed 187.73 per cent rally over Friday's close of Rs 727.90 to revisit its January high of Rs 2,094.40. The June quarter numbers of this company were also poor. There were also concerns over aggressive pricing by a competitor in a large enterprise account.

"The management commentary on Tanla’s and peer earnings calls as well as our channel checks suggest that such disruptive pricing is one-off in nature, with the aforesaid telco bidding at reasonable prices in subsequent tenders. While we see limited risk of contagion of pricing disruption in other accounts, this episode also underscores the increasing competitive intensity in the A2P SMS space," IIFL said in a note.


Three stocks Brightcom Group, Tata Teleservices (Maharashtra) and Zomato require a 175-176 per cent rally to revisit their 52-week highs. While not many brokerages track the first two stocks, a host of brokerages have turned positive on Zomato. The stock has also been in a recovery mode, having risen some 15 per cent in the last one month.

PB Fintech, One97 Communications, Metropolis Healthcare, Lux Industries and Vaibhav Global, were some of the stocks that needed a 150-per cent plus rally to revisit their 52-week highs.

On One97 Communications, the stock plunged after the IPO on concerns around lack of visibility on profitability, governance issues and higher valuations.

This scrip has risen 5 per cent in the last one month. "The recent upmove in the stock due to guidance on turning Ebitda (ex-ESOP) positive by September 2023 and softness in valuations, owing to CG issues being raised by proxy advisors," said Emkay Global.

"We believe One 97 Communications will not only have to deliver on its promise to turn profitable, but also steer clear of CG/regulatory issues, to drive-up valuations/returns for investors in the long term," it said.

In case of Metropolis Healthcare, June quarter results were disappointing marred by weak topline as well as weak operating performance, due to higher costs and adverse mix which resulted in a sharp drop in margins. Sharekhan has revised downwards its FY23-24 estimates by 9-11 per cent.

For PB Fintech, Q1 numbers were a beat on several counts such as lower Ebitda loss, growth in insurance premium and healthy uptick in credit disbursals. Besides, there was a clear pivot in management commentary on profitability according to analysts. The median price of nine analysts stood at Rs 790 for PB Fintech.

Lux Industries and Vaibhav Global are not widely tracked stocks.

Shares of Zensar Technologies, Indiabulls Real Estate, Indiamart Intermesh, Hikal, RBL Bank

Welspun India, Indiabulls Housing Finance, HLE Glascoat, Manappuram Finance, Thyrocare Technologies, TV18 Broadcast and Firstsource Solutions need to double in price to reclaim 52-week highs.

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