Market Movers: These stocks log 52-week high defying weak market sentiment!

Oil India, Elecon Engineering Co and Sumitomo Chemical witnessed positive action in today’s session.

As indices extend losses realty, consumer discretionary and consumer durables sectors were among the Top Losers, while metal, oil & gas and energy stocks witnessed positive action. 

At the closing bell on June 6, the Sensex closed with a loss of 0.2 per cent or 93.91 points to close at 55,675.32, while the Nifty index shed 0.1 per cent or 14.75 points at 16,569.55. 

  Oil India Ltd emerged as the top gainer among the BSE “A” Group witnessing a rally of 11.06 per cent in today’s session on the back of outstanding Q4 performance and closed at Rs 278.55. The stock logged its fresh 52-week high in today’s session at Rs 284.40. The net revenue for the quarter ended March 31, 2022, stood at Rs 8869.71 crore which was up by 36.42 per cent on a YoY basis. PAT in Q4 grew exponentially by 2X or 208 per cent at Rs 2909.79 crore from Rs 945.89 crore on YoY basis. 

  Elecon Engineering Co Ltd witnessed a gain of 9.12 per cent in today’s session and closed at Rs 250.70. The stock logged a 52-high in today’s session at Rs 270 overwriting the last trading session’s 52-weeks high of Rs 235. The company is engaged in delivering power transmission solutions and material handling equipment. The stock price has surged 28 per cent in just 4 trading sessions of June 2022. 

  Sumitomo Chemical India Ltd gained 4.85 per cent in today’s session while logging a fresh 52-week high of Rs 491.80. The stock has been buzzing on the bourses and it recorded a 52-week high on June 1, 2022, at Rs 488.95. The pesticide and agrochemical company has rallied 6.2 per cent since the beginning of the month from the level of Rs 463.05.