2 Adani & 1 Tata Group Stock Trading Close To 52-week Lows

There are several stocks that are trading close to 52-week lows, and among these include one Tata Group stock and two Adani Group stock. Let's take a look at the list.

Name	Current market price	Distance from 52-week lows
Adani Total Gas (Adani Group)	643.65	3.61%
Voltas (Tata Group)	660	3.08%
Gujarat Ambuja (Adani Group)	241	7.07%

Other stocks that very close to their 52-week lows Page Industries, Vinati Organics, Hinduja Global, Symphony etc.

Indian markets hit record highs

After remaining range-bound over the past 18 months, Indian markets finally broke the shackles and surpassed the earlier highs in Jun'23, Motilal Oswal has said in its report. According to the brokerage a combination of strong macros (e.g., healthy GDP growth of 7.2% in FY23, peaking out of inflation and interest rates, robust external balance and stable currency), stable micros (e.g., decent FY23 corporate earnings on a high base, expectations of high-teens growth in FY24 and correction in commodity prices) and a sharp recovery in FII flows post- Mar'23 has driven the ascent.

"However, while markets are at all-time highs, not all such milestones are similar. Valuations today are relatively more reasonable than the Oct'21 peak of the Nifty. This is largely attributed to the 18-month correction experienced by Nifty when it was range-bound even as its earnings were up 34%/11% in FY22/FY23.

FII flows returning after a long winter; near-term outlook bright

After reporting cumulative outflows of USD26.1b between Oct'21 and Feb'23, FII flows bounced back strongly during Mar-Jun'23, with cumulative inflows of USD15.5b. Conversely, DII flows continued to remain positive at USD4.1b during the same period.

Disclaimer

The above article is for information only. Please note, we have highlighted the stocks that have are near 52-week lows and this is not a buy, hold or sell based article. This is not a recommendation of either Greynium Information nor the author. Neither Greynium Information Technologies, nor the author should be held responsible for losses caused based on a decision from the article.