Latest News
-
Gold Prices In US: Yellow Metal Rates Near Record High Amid Geopolitical Unrest; Citi Sees Further Surge -
CRISIL March 2024 Quarter Sees 5.51% Net Profit Drop; Dividend Announced -
Apollo Tyres Gets Rs 2.06 Crore Tax Demand -
Closing Bell: Market Ends Lower For The 3rd Straight Session; Sensex & Nifty Plunge Lead By IT Stocks -
India's Unemployment Rate To Decline 97 Basis Points By 2028, ORF Report Says -
Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks -
Penny Stock Below Rs 50 Announces Major Update On 6:11 Bonus Shares; Bet? -
Indian Rupee Hits Record Low Amid Middle East Concerns And Fed Rate Speculations -
Gold Rates In UAE: Huge Jump Of Nearly Rs 1,000 In 24-Carat Yellow Metal In Dubai; WHY? -
Nykaa’s Co-founder Adwaita Nayar Named Young Global Leader In WEF’s Class Of 2024
Blue Chip Stocks Near 52-Week Lows; Should You Buy Them?
Markets are trading at almost a 1-year high, but, there are some stocks that are trading way lower. These include several blue chip stocks that are now trading near 52-week lows. Take a look.
Idea Cellular
Shares in Idea Cellular have fallen from levels of Rs 170, to the current levels of Rs 95.
Shares in Idea Cellular have taken a beating as Q1 results were weak. Also, there worries that the strong emergence of Reliance Jio could aggravate competition in the sector.
However, Idea remains a good bet in the long term, though short term impact could remain from Jio.
Mahindra Lifespaces
Mahindra Lifespaces, a real estate developer from the Mahindra group has seen its share price fall from Rs 560 to the current levels of Rs 428.
The share does not see too much volatility, which is why it is a bit lacklustre. Mahindra Lifespaces is more a long term play.
NIIT Technologies
NIIT Technologies has dropped to levels of Rs 413 from levels of Rs 630. The stock is very close to its 52-week low of Rs 407. Most of the tech stocks have dropped sharply, as the the large IT companies reported Q1 numbers that lagged estimates.
NIIT Tech looks technically weak and hence has a risk of further downside. It's best if the stock is avoided.
Glaxo Smithkline Pharma
This is a bluechip pharma company that has fallen from 52-week high levels of Rs 3872 to Rs 3,100. The 52-week low of the stock is Rs 3032, hit earlier in Jan 2016. Those looking at accumulating blue chip stocks can buy the same, as the downside risk is very low.
Mirza International
Mirza International manufactures footwear and is renowned for the redtape brand. The stock has fallen from levels of Rs 140 to the current levels of Rs 85. the company has declared a decent dividend of 25 per cent.
The stock is not a bad bet at the current levels.
Alstom T&D
Alstom T&D is very close to its 52-week low of Rs 324. The stock is currently trading at Rs 330.
This is a part of the French Alstom Group and has significant presence in India.
Blue Dart
Blue Dart is another bluechip stocks that has dropped to a new 52-week low. The shares are trading at Rs 5,540. The stock has hit a 52-week high of Rs 7,900.
Blue dart, despite a drop in the share price still looks expensively priced at this level and is best if avoided.
