Stock market today : Even though Indian benchmark indices have been battling selling pressure for more than a week, there are a large number of quality stocks that have either hit or remain close to 52-week lows. Aurobindo Pharma, HDFC AMC, Castrol India, LIC Housing Finance and SBI Cards and Payment Services are among such stocks. These high quality stocks, which have broken down to a 52-week low, can prove to be a good deal for positional investors.
1. Aurobindo Pharma
Aurobindo Pharma: This pharma stock fell by around 3.50 per cent today and is available at around Rs 595, which is around its 52-week low of Rs 590.10 per share. The stock of Aurobindo Pharma has lost nearly 11.50 per cent in the last 5 trending sessions and is currently down 55 per cent from its 52-week high of Rs 1063.90.
2. HDFC AMC
HDFC AMC: The share of HDFC Asset Management Company or AMC today touched Rs 2,129 in intraday, which is its 52-week low. The stock has been in a sell position for the past one week and has lost more than 10 per cent during this period.
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3. Castrol India
Castrol India: Retail Outlet Company’s share is at Rs 118.75, which is close to its 52-week low of Rs 112.95. Compared to other quality stocks, Castrol India’s stock has seen less downside. In the last one week, the stock of Castrol India has registered a weakness of about 4.50 per cent.
4. LIC Housing Finance
LIC Housing Finance : Share of Housing Finance Company is trading at around Rs 333, which is close to 52 week low of Rs 330. The stock of LIC Housing has lost almost 10 per cent in the last one week.
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5. SBI Cards & Payment Services
SBI Cards and Payment Services: SBI Card’s stock is trading at around Rs 842 per share today, up Rs 61 from its 52-week low of Rs 781.20. It is also one of the few quality stocks that has rarely broken in the past one week. During the last one week, it has registered a decline of 3.50 percent.
Should you invest?
Saurabh Jain, Assistant Vice President – Research (Retail Equities) at SMC Global Securities, said in a Livemint report, “Today, the best way to add stocks to your portfolio is by looking at stocks that have scored well during the sharp fall in the benchmark index. has performed well. If we look at the stocks that hit 52-week lows in the recent selloff, it is clear that there are no buyers with these stocks. Hence, it is better to buy such stocks which have shown strength even in the bearish market. Such stocks are available in banking, real estate and consumer goods segments.
Echoing similar views, Sumeet Bagadia, Executive Director, Choice Broking said, “It is an ideal way to buy stocks that are available at discounted prices under normal circumstances. But while bears dominate the market, one should consider buying stocks that have managed to hold their levels. However, if one is looking to buy any of these 5 stocks, I recommend buying SBI Cards with levels of Rs 950 to Rs 1000 for one month. However, stoploss should be maintained at Rs 780.
Disclaimer: The views and investment tips of investment experts on Moneycontrol are their own and not that of the website or its management. Moneycontrol advises its users to consult certified experts before taking investment decisions.
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