It has not been a great year for stock market investors, with the index barely moving and small and mid cap stocks collapsing.

Gains have been very limited since the start of the year 2018. The Sensex, which closed Jan 1, 2018 at 34,059 points, is now near 35,960 points, which is barely a gain of 5 per cent.

Not every investor can predict what is in store for 2019. What is certain though is that it is likely to be a year of immense volatility. You may have to think a lot differently to make money. Here are a few stocks that have been hammered down and maybe good contrarian bets.

Yes Bank

The shares of Yes Bank have slumped from a 52-week high of Rs 400 to Rs 180. There are leadership challenges at Yes Bank and also some disclosure issues with regards to NPAs. However, for this the stock has been hammered down and adequately punished.

If you are looking at a contrarian bet, then Yes Bank maybe a little risky bet in the short term, but, could yield returns in the more longer term. This is the fourth largest private sector bank, whose asset quality remains stable. The bank has seen a solid robust growth in the last 10 years and is likely to maintain the momentum.

For the quarter ending Sept 30, 2018, the advances showed a robust growth of 61 per cent. The Net Interest Income at the bank saw a 28 per cent growth, year on year. The shares are available at a p/e of just 10 times, one year forward earnings.

In fact, there is a high possibility that the bank could report an EPS of Rs 28-31 by 2021. Hence, if you are willing to hold the shares for a period of 2-3 years, the stock is available very cheap. In fact, at the current price, the trailing price to book based on 2019 B/V is just 1.5 times. That could be one of the best stocks to buy for 2019.

REC

REC is a government owned company, that is engaged in financing power projects. The stock has been hit, following reports that the government's stake in REC, would be purchased by PFC. However, that happened to HPCL as well, where ONGC purchased the government's stake in the company.

Actually, in the present context, it would make more of a difference to PFC, which has to cough-up cash, rather then REC.

REC can be good stock for steady dividends. In fact, in calendar year 2018, the company declared a dividend of 9.15 per share, which on the present price of Rs 104, takes the dividend yield to 8.8 per cent per annum. REC's financial performance has also been good this time, which will ensure a more enhanced dividend. This protects the stock against any huge downside risk.

The shares of the company are also available at a p/e of just 8 times one year forward earnings, making it very inexpensive. The shares have dropped from levels of Rs 160 to the current levels, which makes it attractive for buyers looking at long term gains.

Again, a good stock to buy for 2019.