The Sensex has hit a record high crossing the 30,100 points rather easily. However, there are some bluechip stocks that have not participated in the rally and are in fact struggling at either 52-week lows or near 52-week lows. Take a look.
Lupin is a bluechip pharma stock, which last year in July hit a 52-week high of Rs 1,752. However, since then the stock has lost heavy ground and has now plunged to a 52-week low of Rs 1,332. This is at a time when the Sensex and the Nifty are both hitting record highs. Sentiments for pharma stocks are at a new low given the frequent import alerts from the US FDA, which hampers exports to the US. The sentiments it looks is not going to change anytime soon.
Coal India is another stock that has been losing ground and is very close to its 52-week low of Rs 274. At the current price the company becomes extremely attractive on the dividend yield front. The stock has been seeing consistent selling ever since it went ex- dividend. Recently, there were reports that some of its mines were downgraded for poor quality of coal. One has to wait and watch to see if there would be any recovery in the stock price of Coal India. Demand for coal from power producers has also slackened.
Again, sentiments for pharma stocks has been poor and investors are willing to sell at higher prices. one such stock that has been impacted is the stock of Glaxosmithkline Pharma (GSK). The stock has dipped from levels of Rs 3,818 to the current price of Rs 2,555. In the area of preventive healthcare, GSK continues to be the No. 1 vaccines company in the private vaccines market in India. The company is also a leading player in prescription medicines covering anti-infectives, gynaecology, diabetes, oncology, cardiovascular disease etc.
TTK Healthcare is another stock that has dropped to a new 52-week low of Rs 773, from levels of Rs 1,100 seen in the month of Sept. TTK Healthcare is engaged in the manufacture of babycare, healthcare, animalcare, pharma products etc. The reasons for the sharp drop in the share price is the poor financial performance. The company has a very small equity capital and hence the floating stock of the company is also very low. The shares of TTK were last seen trading at Rs 773.
Infosys has not hit a 52-week low, but at Rs 927, the stock is not very far from its 52-week low of Rs 901 hit in the month of November 2016. Some analysts are suggesting to now buy the stock given the fact that dividend yields of the stock at the current levels could turn attractive all over again. The stock has been hit by a poor set of quarterly numbers and also worries over growth and worries over the H1B visa issue.
This is another stock that is nearing its 52-week low. The current price of the share is Rs 676. The financial performance of the company in the last quarter has not been too great, which is why the shares have fallen. The company is a Swiss based company that is into speciality chemicals
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