New Delhi, Sept. 22 -- Small-cap NBFC stock Fedders Holding surged almost 18% in intraday trade on Tuesday, 22 September, to hit a 52-week high, defying weak stock market sentiment. Fedders Holding shares opened at Rs.64.51 against their previous close of Rs.61.83 and surged 17.7% to their one-year high of Rs.72.79. Around 11:40 AM, Fedders Holding's share price was 14.6% up at Rs.70.84, looking set to extend gains for the seventh consecutive session. Equity benchmark Sensex was 24% down at 74,676 at that time.

The stock has been on a strong uptrend lately, surging 87% over the past six months. Most of these gains have come in the last month, during which the stock has rallied 75%.

According to experts, the stock's rally is supported by...