The Nifty has fallen about 7% to 8% from 52-week highs. However, there are select stocks that are now available 30% to 50% lower than their 52-week highs. Here are a few such stocks.
Shares in Lupin have crashed a good 40 per cent from 52-week highs of Rs 1,400. The shares are now available at just Rs 790. Things in the pharma business turn quickly, if the US FDA issues warning letters or bans exports to the US from a particular plant.
Lupin has in the past been impacted, which has sent the stock price falling.
At this price whether the shares remain an attractive bet to buy is difficult to say. It all depends on the US markets and what comes from the US FDA. The company is one of the top pharma companies in India.
Shares of PNB have crashed 60 per cent from 52-week highs of Rs 232, which was hit late last year, after the government announced a re-capitalization of government owned banks.
However, last month the bank was in the eye of a fraud, which was perpetrated and which could result in a loss of Rs 12,000 crores for the bank.
The shares have fallen from levels of Rs 232 to Rs 99 and hit a 52-week low of Rs 94. Some analysts are advising a bounce in the stock to levels of Rs 120 on short covering. One will have to be very patient to generate returns.
The stock has lost near 30 per cent from 52-week highs of Rs 488. The DVRs have now closed below the Rs 200 mark, which we have not seen in sometime.
Shares of Tata Motors have been falling as markets seem unimpressed by volumes, though one must admit that the domestic sales at the company has seen a sharp rebound.
On a single day on Monday, the stock lost as much as 5 per cent. Patient investors might see decent returns, given that the company has lined-up a spate of launches, especially under JLR. It is unlikely that we will see any sharp downside in the stock.
Union Bank of India
This is another stock that has taken a pounding, like most other government banks in the country. The stock has lost a good 50 per cent from levels of Rs 200 to Rs 100. Sentiments for government owned banks are very bad and investors are unwilling to buy these shares even at these levels.
The PNB fraud case has had a dampening impact on some of these stocks.
Again, one is not sure whether it would be worth taking a risk to buy these shares. However, in case sentiments turn positive there can be a sharp trend reversal in these stocks.
Balrampur Chini Mills
This is a sugar stock, which has now crashed to a new 52-week low of Rs 105. The stock has fallen from a near 52-week high of Rs 184, thus losing as much as 40 per cent from higher levels.
However, the stock is good on the dividend yield front and offers a yield of as much as 3.5 per cent. The shares are also good as they are available at a price to book of just 1.61 times. The shares of the company have a face value of Re 1.
MMTC is a government owned company. The shares of the company have plunged to Rs 50 from Rs 100. MMTC Limited is the largest international trading company in India and has been in existence for almost five decades. The shares of the company are traded with a face value of Re 1.
Other stocks at 52-week lows
Among other stocks that are available at 52-week low prices, include Lovable Lingerie, BSE Ltd, Andhra Bank, Indian Energy Exchange and General Insurance Corporation. However, this list is only selective.