Markets fell sharply this week as sentiments were adversely affected by developments in China. Stocks from the metal and banking space were the hardest hit, while several blue chip stocks have hit their 52-week low. Here are 7 such stocks that are now available at 52-week lows.
NMDC is a cash rich, debt free company majority owned by the government. The one reason why the stock has hit a 52-week low is the carnage seen in metal and mining stocks.
The company is a major player in the iron ore business. As China's growth story falters, metal and mining stocks are the first to be hit, since bulk of the demand comes from China.
The share was last quoted at Rs 94.
Hindalco is another blue chip stock that has crashed to a one year low. The company is a major player in the aluminium business and the drop can be largely attributed to China's growth story. The shares were last trading at Rs 86.
IDFC is a leading infrastructure financial institution that recently got a banking license. The shares fell to a low of Rs 135 on Friday. The share maybe more of a long term story, given the fact that it will start banking operations shortly.
Just dial has been a favourite of domestic institutions and foreign funds. But, the way the stock has fallen has surprised many analysts. It hit a 52-week low of Rs 840 on Friday only to recover and trade at Rs 915. Very typical of midcaps to fall faster when the markets fall.
Cairn India has fallen on a sharp fall in crude oil prices. A fall in global crude prices tend to affect the performance of the company. The stock on Friday hit a 52-week low of Rs 135.
ONGC is another blue chip that has fallen on account of crude oil prices. The sharp fall in Brent Crude to below $48 is weighing on sentiments for oil exploration companies. If crude oil prices fall expect ONGC to continue to fall.
Tata Motors has also crashed to a 52-week low. This stock is once again a victim of slowing growth in China, which has saw markets across the globe plunge.
China is the largest market for the company's Jaguar Land Rover range and slowing growth in China is causing investor worry in the stock.