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Stocks To Buy: 7 High Quality MidCap Stocks Near 52-Week Lows
In this market it is hard to find good quality stocks that are trading near 52-week lows. In fact, some of them are bluechip names, while others have a long-standing track record of dividends, while others have a strong brand equity. Here are the list of midcap 7 stocks that are very close to 52 week lows.
Gillette India
| Current market price | Rs 5479 |
|---|---|
| 52-week low price | Rs 5351 |
The stock of Gillette India is barely 2% away from its 52-week low. For the year ending June 2021 the company declared a hefty dividend of 1190.00% amounting to Rs 119 per share. The dividend yield itself is more than 2%. Buy the stock if you wish to diversify your portfolio from the high risk economy related stocks to something where the downside risks are limited. The stock has hit a 52-week high of Rs 6275.
Mahanagar Gas
| Current market price | Rs 913 |
|---|---|
| 52-week low price | Rs 817 |
This stock like Gillette India is very close to its 52-week low. The company has piped Natural Gas distribution network in Mumbai and its adjoining areas.
For the quarter ending Sept 30, 2021 the company reported an EPS of Rs 20.68 and almost a similar EPS for the quarter ending June 30, 2021. If it can deliver an overall EPS of Rs 80 for FY 2021-22, the stock is trading at just 10 times p/e multiple. Mahangar Gas stock is a good stock to buy with a near monopoly business and plans for future expansion.
Glenmark Life Sciences
| Current market price | Rs 614 |
|---|---|
| 52-week low price | Rs 602 |
This pharma stock is also very close to its 52-week low. In fact, most of the pharma stocks like Aurobindo Pharma, Lupin etc., are down almost 30% from 52-wee highs. We have not done an analysis on Glenmark Life Sciences as analyzing pharma stocks is always so hard. If there is a simple US FDA warning the exports go for a toss and so does the earnings projections.
Amara Raja Batteries
| Current market price | Rs 607 |
|---|---|
| 52-week low price | Rs 639 |
The stock of Amara Raja Batteries has plunged from a 52-week high of Rs 1025 to the current levels. Amara Raja Batteries is the country's largest lead acid battery player with a renowned brand like Amaron. It supplies to almost all of the top automobile makers in the country and has a solid brand equity in the replacement market. The stock is worth a buy at the current levels given the way it has fallen from 52-week levels.
City Union Bank
| Current market price | Rs 142.15 |
|---|---|
| 52-week low price | Rs 146 |
This stock had a 52-week high of Rs 189. It generally does not tend to move sharply or fall in any direction with volatility very less. We are not recommending a buy on banking stocks at the moment given the possibility that next year interest rates could trend higher.
Akzo Nobel India
| Current market price | Rs 2085 |
|---|---|
| 52-week low price | Rs 2039 |
Akzo Nobel is a leading paints and coatings company and supplies essential protection and essential colour to industries and consumers. Again, the stock has been moving in a very tight band as the 52-week high is only Rs 2530 on the NSE.
Aditya Birla Sun Life AMC
| Current market price | Rs 593 |
|---|---|
| 52-week low price | Rs 570 |
This is an asset management company which manages all the Aditya Birla mutual fund schemes. The fortunes of the company are largely linked to how the schemes work, amount of assets under management etc.
Disclaimer
Investing in the stock market is risky. Investors must therefore exercise due caution. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article.
