4 Bluechip Stocks That Are Less Than 5% Away From 52-week Lows

Markets have been falling sharply over the last few trading sessions, as worries over rising interest rates in the US, once again re-surface. Here are a list of bluechip stocks that are trading 5% away from 52-week lows.

Infosys

Current market price	52-week high price	52-week low price
1413	1953	1355

The shares of the company are just 5% away from their 52-week lows. The company is also set to announce its quarterly numbers later this month. Like most stocks from the IT sector, this stock too has come-in for severe selling pressure. At the current market price the stock maybe attractive for its dividend yields. The shares are now trading at Rs 1413, as against the 52-week low of Rs 1355, which is just 5% away.

Tata Consultancy Services

Current market price	52-week high price	52-week low price
3004	4045	2926

Like Infosys, the shares of TCS too are languishing. There are worries that growth for these companies could slow, if there is recessionary like conditions in the US. The stock of TCS like Infosys is very close to its 52-week low of Rs 2926. The shares are currently trading at Rs 4045 on the NSE. For risk averse investors, this maybe a good stock to buy, given the huge slide that one has seen in the stock over the last few months.

GAIL

Current market price	52-week high price	52-week low price
87	115	83

The company recently declared bonus issue of shares in the ratio of 1:2. Volatility in the share price is also on account of the volatility that we have been seeing constantly seeing in gas prices. Earlier, last month was the record day for bonus issue in the stock. The shares of the company have now hit a 52-week high of Rs 115 and a low of Rs 83, as against the current market price of Rs 87. Should the markets fall there could be further downside risks to the stock.

NATCO Pharma

Current market price	52-week high price	52-week low price
605	942	593

Natco Pharma is among the top players in the pharma space. The shares of the company have been on a solid downtrend over the last few months. In fact, most pharma companies have seen a downward pressure on worries that there could be margin pressures going ahead, given the inflationary conditions. However, the silver lining for these companies is the sharp drop in the value of the rupee against the dollar. Despite the sharp fall in the share price of Natco, the stock is still trading at a trailing p/e of nearly 30 times, according to the BSE website.

Sharp drop does not always mean a buy

A sharp fall in the share price of the company does not always mean it is a good time to buy the stock. Investors must understand that fundamentals could be changing, as is the case with IT Stocks. However, over a longer period of time, some of these stocks, especially from the IT space could hold some value and hence it would be worth nibbling into at lower levels.