Domestic benchmark indices slipped for the eighth consecutive session on Tuesday, albeit marginally, logging their largest losing run in the past five months. This happened as a result of aggressive rate hikes by developed economies and amid a bearish trend in global markets. Foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments.
The thirty-share BSE Sensex was trading at 59,232.09 points, down 0.095% and the fifty-share NSE Nifty 50 was trading at 17,383.45 points, down 0.053% at 12:38 PM on Tuesday. closed 0.42% lower at 17,392.70 points by 12:35 PM. Here are three fundamentally strong stocks that are trading near their 52-week low
Angel One
Angel One is a diversified financial services company primarily engaged in a variety of financial activities like broking, depository services, distribution of mutual funds and lending as an NBFC.
Its share price reached a 52-week low of ₹ 1011.10 apiece on Tuesday’s early trades. The shares shed 22.98% in the past six months were trading at ₹ 1013.80 apiece at 12:42 PM apiece.
The company has a market capitalization of ₹ 8646 crores and is a small-cap company. It has an excellent return on equity of 46.04%. Its shares were trading at a price-to-earnings ratio (P/E) of 10.63, which is lower than the industry P/E of 21.52, indicating that the stock might be undervalued as compared to its peers. This could mean that its share price might increase in the future. The company has a high dividend yield of 3.70%.
Central Depository Services (India) Ltd (CDSL)
CDSL is the only listed depository in India. It is a facilitator for the holding of securities in dematerialised form and an enabler for securities transactions.
Its share price reached a 52-week low of ₹ 972.10 apiece on the NSE on Monday’s trades. The stock shed 22.50% in the past six months and its shares were trading at ₹ 978.00 apiece at 12:45 PM on Tuesday.
The company has a market capitalization of ₹ 10,239 crores and is a small-cap company. It has an excellent return on equity of 31.59% and an ideal debt-to-equity ratio of 0.00. However, its shares were trading at a price-to-earnings ratio (P/E) of 35.26 which is higher than the industry P/E of 21.52, indicating that the stock might be overvalued or that investors are willing to pay a higher price for the company’s future earnings.
Polyplex Corporation
Polyplex Corporation is engaged in manufacturing BOPP, Blown PP/PE and CPP films used in the flexible packaging industry and in industrial usages.
Its share price reached a 52-week low of ₹ 1,370.00 apiece on the NSE. The stock shed 35.76% in the past six months and its shares were trading at ₹ 1,377.75 apiece at 12:50 PM on Tuesday.
The company has a market capitalization of ₹ 4420 crores and is a small-cap company. It has a return on equity of 17.86% and an ideal debt-to-equity ratio of 0.25. Its shares were trading at a price-to-earnings ratio (P/E) of 8.40, which is lower than the industry P/E of 13.14, indicating that the stock might be undervalued as compared to its peers. This could mean that its share price could increase in the future. It has a dividend yield of 2.91%.
Written by Simran Bafna
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