Bluechip stocks like Hero MotoCorp, L&T and Hindustan Zinc fell to a new 52-week low today, even as the Sensex dropped almost 400 points in trade.
Sudden weakness following the spread of coronavirus across the globe, led to some severe selling pressure across the globe.
Shares in Hero MotoCorp fell to a new 52-week low of Rs 2190.30 on the NSE. The two-wheeler major has seen a consistent fall in the last few quarters, as investors continue to dump auto stocks, on fears of a persistent slowdown.
In fact, the dividend yield on HeroMoto Corp is very attractive at near 4 per cent.
The other stock that dropped to a 52-week low was Hindustan Zinc, which fell to a new 52-week low of Rs 179. The shares have largely fallen because the results for the quarter ending Dec 31, 2019 have not been to the mark.
L&T too dropped to a 52-week low as investors continued to worry about a slowdown in the economy. The shares of the company hit a new 52-week low of Rs 1252.65. Most analysts in the coming quarters would watch the order inflows at the company.
Value buying in the stock could push it higher in the coming days.