5 of top 10 stocks near 52-week highs are pharma companies; Sun Pharma, IPCA Labs among names

Pharmaceutical companies dominated the list of stocks trading near their 52-week highs on Monday, with five of the top 10 names on the screen belonging to the pharma and healthcare space, signalling continued investor interest in the sector amid broader market volatility.

Among the pharma names featuring on the list were Sun Pharmaceutical Industries, Ipca Laboratories, Laurus Labs, Gland Pharma and Aster DM Healthcare.

Sun Pharma was trading at ₹1,894.7, just shy of its 52-week high of ₹1,895. The stock gained nearly 0.9% during the session. Ipca Laboratories rose around 2.8% to ₹1,649.2 against a 52-week high of ₹1,654.7, while Laurus Labs traded near ₹1,322.7 compared to its yearly high of ₹1,332.

Gland Pharma emerged among the top gainers on the screen, rallying over 15% to ₹2,149, close to its 52-week high of ₹2,164.4. Aster DM Healthcare also featured on the list, trading at ₹760.8 against its 52-week high of ₹770.

Apart from pharma stocks, other companies appearing in the top 10 near-52-week-high screen included BSE Limited, Grindwell Norton, TD Power Systems, Solar Industries India and Black Box.

Market participants often track stocks trading close to their 52-week highs as these counters are generally seen displaying strong momentum and sustained buying interest. Analysts believe sectors with multiple stocks near lifetime or yearly highs often indicate improving earnings visibility and favourable sectoral sentiment.

The strong representation of pharma companies on the list comes amid continued investor preference for defensive sectors and expectations of stable earnings growth from large and mid-sized pharmaceutical players.

Disclaimer: This article is for informational purposes only and should not be construed as investment advice.