7 Good Quality Pharma & IT Stocks Near 52-week Lows, Should You Buy?

It has been a good going for the markets in the last few months. The Sensex hit a new record high and crossed the 63,000 points mark. However, it has not been good going for the IT sector as fears of recession abound. Here are few stocks that you should take a look at:

Pharma and IT stocks near 52-week lows

Company name	52-week low	Current market price	Gap from low
Natco Pharma	549	553	0.80%
Aurobindo Pharma	435	437	0.59%
Metropolis Health	1277	1287	0.76%
Mphasis	1898	1925	1.52%
Wipro	374	385	4%
Tech Mahindra	944	1008	6.74%
Thyrocare Technologies	600	609	1.58%

What do you do with these IT and Pharma stocks?

It is really hard to predict the movement of the markets and stocks in the future. In fact, the way some of these stocks have fallen, especially from the IT sector, nobody would have expected. In fact, largecap IT stocks have fallen as much as 44%. Where the bottom would be, nobody seems to know. Overall, the trend of the markets has been buoyant and these stocks have been falling. Some of these stocks like Tech Mahindra have now turned attractive for their dividend yields. As far as pharma stocks are concerned, some have fallen post covid. Others have fallen on account of margin pressures in the US. In fact, the fall is stock specific as fundamentals could have changed.

Brokerages have buy on Natco Pharma, Tech Mahindra

Individual brokerages have a buy call on select stocks from the sector. For example, Geojit a few weeks back had a buy call on Natco Pharma for a price target of Rs 704, which is a significant upside from current levels. Again, brokerages also had a buy call on the stock of Tech Mahindra. Accenture Plc has already warned that a pullback in spending from clients who were postponing business improvement projects, especially in retail, was hurting its consulting business and forecast quarterly sales that could miss market estimates. Overall, the trend for the IT sector is not too encouraging. Investors have also been moving money from IT to banking on better prospects for the latter.

Disclaimer

The stocks have been picked from brokerage suggestions. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.