3 Debt Free Stocks Available At Steep Discount From Their All Time High Prices

Debt free companies or virtually debt free companies are good for investment as they are well off capital wise and even a slow down situation doesn't impact such firms substantially as they do not have to bear any fixed costs. So, while one may also look at a debt free company as not being proactive, debt free nature should not be the sole consideration when considering potential into investment as many other factors also play their part such as the company's line of business, ability to stand in the long run, earnings multiple etc.

So, just for knowledge sake, here are some mid cap stocks that are debt free and considerably below their all time high price:

1. Castrol:

This Nifty MNC constituent from the lubricants space is into manufacturing and marketing of a range of automotive and industrial lubricants. Furthermore the company holds a leadership position in retailing automotive lubricant segment. The company has a high dividend yield and in its latest dividend declaration announced Rs. 3 per share.

The company's all time high price has been Rs. 272 which means the stock is down 58%.

Commanding a good brand equity and being a market leader, the scrips makes up as a good 'Buy' at current levels.

2. Sun TV:

This is a mid cap media and entertainment company from the mid cap segment. The company is among the leading TV network in the country with many channels as well as several radio stations in varied languages. The company is the world's no.1 Tamil channel that features movies, news, serials and shows -- 24 hours a day.

In November 2021, Motilal Oswal placed a 'Buy' call on the stock for a target of Rs. 670 given the guidance for double digit growth in subscription Also, company has been continuously expanding its investment for adding growth momentum in viewership.

3. Whirlpool

This is a consumer durable company again from the mid-cap space. As the pandemic hit the spending by individuals and due to other constraints, the company's stock price has come down to Rs. 1704.5 per share from its all time high of Rs. 2787.

The company is reasonably priced given the P/E based on its P/E of 35.3 against the sector's P/E of 89.65, whilst the Indian Consumer Durables industry average (38.9x).

Stock	All time high price	Current price	Current downside
Castrol India	Rs. 272	Rs. 115.15	58%
Sun TV Network	Rs. 1097.8	Rs. 485.45	56%
Whirlpool of India	Rs. 2787	Rs. 1704.5	39%

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