5 High-Quality Stocks That Have Fallen To 52-Week Lows, Should You Buy?

Markets have been constantly edging higher and it is a matter of time, before we hit new record highs. Ironically, there are a few stocks that are now falling and some of these have now dropped to new 52-week lows. Take a look at some of them.

5 high quality stocks to fall to 52-week lows

Company name	New 52-week low	52-week high	Current market price
Bandhan Bank	224.15	349.55	225.95
Voltas Ltd	827.3	1,347.65	834.55
Medplus	581.1	1,343	587.55
Glaxo Smithkline Pharma	1,330.20	1,918.75	1338
Birla Soft	260.55	585.85	271

Should you buy these stocks?

Several brokerages have a buy call on the stock of Bandhan Bank including the likes of Emkay Global and Motilal Oswal Financial Services. In fact, we have not seen any brokerage report where the price target on Bandhan Bank is lower than the current market price. As far as the other stock where there were some buy calls, was the stock of Birla Soft, where Sharekhan set a price target of Rs 335. Emkay Global on the other hand had a bigger price target on the stock of Birla Soft with a price target of Rs 370. It is hard to say about most of the other stocks. Some of them have seen a dramatic fall as in the case of Medplus.

Stock action to be largely determined by market movement

Domestic indices continued its positive momentum in line with its global peers. Nifty opened higher and remained firm throughout the session to close with gains of 86 points at 18203 levels. Lot of stock specific action is being seen in the market as the results unfold. Tyre stocks were in lime light on back of expectation of good 2Q numbers and stable rubber prices. Sectors like PSU Bank continued to be in action on back of better than expected result from Bank of Baroda and SBI. Auto and Metals were also seen in action on the hope demand for Metals globally after China eased some restriction. "Market would remain closed on Tuesday on the occasion of Gurunaka Jayanti. We expect market to continue its northbound movement and head towards 18350-18500 levels backed by positive global cues, FIIs being net buyers and continued earnings delivery. In the near term, now all eyes would be on inflation data of US and India which would set tone for Powel speech and RBI's action in its next MPC," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Disclaimer

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