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4 Bluechip Stocks That Are Close To Their 52-Week Lows, Should You Buy?

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Markets have been in a consolidation phase for the last few sessions. Each time the Sensex crosses the 58,000 points mark it falls back right again. Here are 4 stocks that are very close to their 52-week lows. Take a look at whether you should buy some of these stocks.

 

Wipro

Wipro

Shares of Wipro have fallen post quarterly results. The stock is trading just 3.47% away from its 52-week low price of Rs 477. Broking firm, Emkay Global has set a price target of Rs 630 on the stock and this may make the stock an interesting bet at the current market price of Rs 495.

"We cut FY23/FY24 EPS estimates by 6.1%/4.7%, factoring in weak Q4 and near-term margin pressures. A simplified organization structure, empowered GAEs and investments into sales and capabilities should drive revenue growth acceleration. We believe the recent stock price correction has captured potential volatility in the operating performance during the early period of the restructuring exercise more than adequately. We retain Buy with a target price of Rs 630 (Rs 670 earlier) at 23x Mar'24E EPS," the brokerage has said.

PNB Housing Finance
 

PNB Housing Finance

This stock too is trading at Rs 372, which is just 4% away from its 52-week low price of Rs 357.50. The company has had a good track record in the past. PNB Housing Finance Limited was promoted by Punjab National Bank (PNB). The Company came out with a public issue of equity shares in November 2016.

The company has reported a good set of quarterly numbers for the period ending March 31, 2022. PNB Housing Finance reported a 33 per cent jump in its net profit to Rs 170 crore in quarter ended March 2022. The company's interest income in Q4FY22 was lower at Rs 1,299.48 crore, as against Rs 1,670.14 crore in Q4FY21.

Net interest income was down by 37 per cent at Rs 377 crore from Rs 593 crore.

''During Q4FY2021-22, there is a net income reversal of Rs 58 crore on derecognized loans due to unwinding impact of spread contraction and run offs whereas during Q4FY2020-21, there was a net positive impact of Rs 58 crore on derecognized loans due to fall in assignees' MCLR in Q4FY21-22, '' it said in a release. A good stock to buy for long-term investors.

Amara Raja Batteries

Amara Raja Batteries

This stock is the top player in the lead batteries segment, with a renowned brand called Amaron. The shares are trading at Rs 554, which is just 6% away from its 52-week low. One of the problems being faced by the company is the increase in raw material costs. However, the company is taking price hikes which is expected to help margins. Apart from this Amara Raja is also gearing up to cater to the epvehicles space and has started supplying to OEMs.

The stock has fallen significantly and the trailing p/e is just 15 times now. This makes the stock attractive given the leadership position that the company enjoys in the lead acid battery space.

Another stock that is close to its 52-week low is the stock of Policy Bazaar. The stock hit a 52-week low as against the current market price of Rs 652. We have not done any analysis on the stock and hence have no buy or sell call.

Story first published: Wednesday, May 4, 2022, 10:22 [IST]
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