9 Stocks At 52-week Lows, Even As Sensex Nears 60,000 Points Again

Stock Markets have been on an ascendancy, even as Foreign Portfolio Investors have begun investing in Indian stock markets all over again. The Sensex is just 100 points away from crossing the 60,000 points mark. Nonetheless there are many stocks that are hitting 52-week lows.

Stocks at 52-week lows

Company name	52-week low	Current market price
Surya Roshni	323	354
Heranba Industries	480	564
Kesoram Industries	44.2	44.95
Patel's Airtemp	188	167
Rolcon Engineering	124.1	124.1
Sahara Oneindia Media	19.95	19.95
Agni Power	24.25	22.15
GVK Power	5.45	5.45
3rd Rock Multimedia	64.6	64.6

Should you buy these stocks that are hitting 52-week lows?

The stocks that have hit 52-week lows, have some announcements in most cases. For example, Surya Roshni, Patel's Airtemp and Heranba Industries have reported quarterly results that are not too encouraging. In most cases, there have seen quarterly results, where there is nothing much too most about. In fact, the quarterly numbers for all of the three mentioned above, show net profits falling, which is why the shares have dropped sharply. Surya Roshni shares are down as much as 7%, while Patel's Airtemp is down 9% in trade today. A sharp fall in shares to 52-week lows, does not automatically make it attractive. One needs to watch the fundamentals closely.

Go for the stocks that are good dividend paying companies

Watch for dividends being paid by the company. For example, Surya Roshni has declared a dividend of Rs 4 per share and also the order book position of the company is good. Over a period of time, these company stocks could recover. Infact, the stock of Surya Roshni has halved from levels of Rs 867, which was a 52-week high that was hit in Oct last year. The stock has the potential to rally from the current levels.

Disclaimer

Investing in stocks is risky and investors must exercise all possible caution. Do not use the article as a basis for your complete investment decision. Greynium Information, and the author are not responsible for losses, based on a decision taken after reading this article.