5 Good Quality Stocks That Have Dropped To New 52-Week Lows

Markets have been trending higher with the Nifty now edging closer to the record highs of 18,600 points. Global cues have been strong and this has lifted both the Asian and the Indian markets to record levels. Here are 5 stocks that have fallen to 52-week lows.

Quess Corp

The shares of Guess Corp has hit a 52-week low of Rs 477 and last ended the week trading at Rs 477.40. The stock has seen decent volumes.

Quess Corp provide a host of technology enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back office operations, manufacturing operations, facilities and security management, HR & F&A operations, IT & mobility services, etc.

The company has established its credentials as India's largest employer in the private sector and the biggest integrated business services provider in the country. The company has recently declared an interim dividend of Rs 8 per share.

GlaxoSmithKline Pharmaceuticals

The shares of GlaxoSmithKline Pharmaceuticals hit a new 52-week low of Rs 1320, as against the current market price of Rs 1325. The shares have also hit a 52-week high of Rs 1917 on the NSE. Recently, GlaxoSmithKline Pharmaceuticals Limited declared its financial results for the quarter ended September 30, 2022. Revenue (from continuing operations) for the quarter came in at Rs 906 crores. PAT for the period (from continuing operations) at Rs 194 crores recorded a growth of 3%. EBITDA margins (from continuing operations) improving by 63 basis point. Commenting on the results, Sridhar Venkatesh, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, said, "GSK India has delivered another quarter of strong performance in general medicines and specialty business, gaining market share. We hope to build on this momentum in the coming quarters and continue to focus on our key brands to drive sustainable profitable growth.

Natco Pharma

The shares of Natco Pharma have been consistently falling over the last few trading sessions. The stock has now dropped to Rs 575, against the current market price of Rs 584. NATCO manufactures API products which are primarily used for captive consumption in our FDF products and are also sold to customers for various international markets such as Brazil, Europe and USA. In the API segment, the company has capabilities to develop and manufacture products with multi-step synthesis, semi synthetic fusion technologies, high-potency APIs and peptides.

 

Bandhan Bank

The shares of Bandhan Bank have been falling ever since the bank declared its quarterly results. The stock has now fallen to levels of Rs 220, as against the current market price of Rs 226. The results of the bank did not manage to meet expectations. The bank is an entity that provides banking services across the nation. In fact, several brokerages now have a buy call on the stock of Bandhan Bank, post the shares falling. The target price on the stock have been ranging from Rs 270 to Rs 360. One can buy the stock for the long-term based on brokerage recommendations.

 

Indian markets rally

Indian equities witnessed smart rally in line with its global peers after the US inflation cooled to 7.7% in the month of Oct'22. Nifty opened gap up and remained strong throughout the session to close with gains of 323 points (+1.8%) at 18352 levels. Nifty/Sensex both touched 52W high today supported by Nifty Bank which touched new highs. HDFC twins led the gains following the expectation of increase in weightage in MSCI index post-merger. "Relief rally was also seen in IT sector on back of decline in dollar index. Volatility index, India VIX, too cooled off by 7% at 14.4%, thus supporting the positive sentiments in markets. Going forward, market is expected to maintain the momentum as peeking out of US inflation has raised the hopes of slowdown in the pace interest rate hike by US Fed. The strong recovery in market today has increase probability of Nifty moving towards its all-time high of 18,600 zone," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.