Indian equity benchmark indices, Sensex and Nifty declined 2 percent each on Monday dragged by heavy selling in banking, IT and auto stocks. Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices also fell over 1 percent each.

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However, some stocks bucked the trend and hit their 52-week highs intraday, check them out below:

Torrent Power:

Shares of Torrent Power jumped over 5 percent to hit a fresh 52-week high of Rs 385.45 apiece on the BSE. The stock price surged after the power company emerged as the highest bidder for the privatisation bid of distribution in the Union Territories of Dadra and Nagar Haveli and Daman and Diu.

In a regulatory filing, Torrent Power said that the acquisition of 51 percent stake in the power distribution company by the company is subject to further formalities as prescribed under the tender.

Jubilant FoodWorks: Shares of Jubilant FoodWorks rallied 6 percent to hit a fresh 52-week high of Rs 3,127.25 after the makers of Domino's Pizza in India announced the acquisition of Fides Food Systems Cooperatief UA by its subsidiary.

In an exchange filing, the company said that its wholly-owned subsidiary Jubilant Foodworks Netherlands BV entered into a purchase agreement with Turkish Private Equity Fund II LP to fully acquire Fides Food Systems Cooperatief UA which holds 32.81 percent equity shares in DP Eurasia NV.

National Aluminium Company (NALCO): The stock price of NALCO gained over 4 percent to hit 52-week high of Rs 54.05 apiece on the BSE. The shares have been rallying since the company last week announced its share buyback offer worth Rs 749-crore. The offer opens on February 25 and closes on March 10.

Hindalco Industries: The company's shares rallied over 6 percent to 52-week high of Rs 328 apiece after the company's board approved the Dividend Distribution Policy as per SEBI at its meeting held on February 13, 2017 as amended on February 22, 2021.

Catch all the latest updates from the stock market here.

First Published:Feb 22, 2021 4:45 PM IST