In recent stock market rout, around a dozen blue-chip stocks have hit or come close to its 52-week lows
Listen to this article
In recent stock market rout, a good number of quality stocks have become available at discounted price. So, those positional investors who are looking for quality stocks available at discounted price, there is a piece of good news for them. Around a dozen blue-chip stocks have hit or come close to its 52-week lows. If their fundamentals satisfies the conviction of an investor, these stocks can be a good bet in current market scenario.
Here we list out 5 blue-chip stocks that have hit new 52-week high in recent market sell-off:
1] Naukri or Info Edge: This blue-chip stock has shown some upside on pull back rally today. But on yesterday session, Naukri shares made a new 52-week low of ₹3500 apiece on NSE. In last one month, this new age company stock has corrected near 25 per cent whereas in YTD time, it has tumbled more than 35 per cent. Looking at its life-time high of ₹7,465.40 per share that it made in October 2021, the mid-cap stock has fallen more than 50 per cent.
2] Amara Raja Batteries: Yesterday, this stock hit its 52-week new low of ₹493.50 apiece on NSE. The blue-chip stock has dipped more than 10 per cent in last one month whereas in 2022, this stock has fallen from around ₹640 to ₹510 levels, descending to the tune of near 20 per cent this year. Compared to its 52-week high of ₹816 on NSE, the stock has tumbled around 37 per cent.
3] PNB Housing: Shares of this blue-chip company have fallen near 20 per cent in last one month whereas in 2022, PNB Housing share price has tumbled from around ₹490 to ₹325 apiece levels, logging near 35 per cent dip this year. Compared to its 52-week high of ₹925, this stock is currently quoting at a discount of near 65 per cent.
4] RBL Bank: This banking stock has been under sell-off heat for last one month. The RBL Bank share price in last one month has come down from near ₹130 to ₹114, clocking around 13 per cent dip in this period. However, in last 6 months, RBL Bank shares have fallen around 45 per cent. Recently, this banking stock made its new 52-week low of ₹100.80, which is around 55 per cent below from its 52-week high of ₹226.40 per share on NSE.
5] ICICI Securities: Share price of the brokerage company has tumbled around 25 per cent in last one month whereas in 2022, this stock has nosedived around 40 per cent. ICICI Securities share price recently hit its 52-week low of ₹462.20, which is around 48 per cent below its 52-week high of ₹496 apiece levels.