The Indian equity markets are gaining an upside momentum after the bloodshed caused during the past couple of weeks. Although, there are a quite few financially strong companies that are at a discount from their 52-week highs.
Listed below are three stocks under the ‘mid-cap’ category that are trading at a discount of up to 27 percent from their 52-week high levels:
Crompton Greaves Consumer Electricals Limited
With a market capitalization of Rs 18,184.09 crores, the stocks of Crompton Greaves Consumer Electricals Limited, one of the leading consumer companies in India, closed at Rs 284.05, gaining 0.40 percent as compared to the previous closing levels of Rs 283.05 apiece.
Digging into the financials of the company, the operating revenues as well as net profit figures slipped from their previous levels recently with the former reducing from Rs 1,876.85 crores during Q1FY23-24 to Rs 1,782.27 crores during Q2FY23-24, and, the latter, during the same period, declining from Rs 122.03 crores to Rs 100.87 crores.
The company’s stock hit its 52-week high price in December 2022 at Rs 376.2, and, comparing the same with the current price level, the stock portrays a discount of about 25 percent.
Page Industries Limited
With a market capitalization of Rs 41,587.16 crores, the stocks of Page Industries Limited, engaged in manufacturing, distributing, and marketing the “Jockey” brand, closed at Rs 37,284.95, slipping 0.60 percent as compared to the previous closing levels of Rs 37,522.50 apiece.
Taking a glance at the financials of the company, the operating revenues as well as net profit figures have shown an increase with the former increasing from Rs 969 crores during Q4FY22-23 to Rs 1,240 crores during Q1FY23-24, and, the latter, during the same period, rose from Rs 78 crores to Rs 158 crores.
The company’s stock hit its 52-week high price in November 2022 at Rs 50,449.9, and, comparing the same with the current price level, the stock portrays a discount of about 26 percent.
Navin Fluorine International Limited
With a market capitalization of Rs 17,915.49 crores, the stocks of Navin Fluorine International Limited, engaged in the production of refrigeration gases, inorganic fluorides, etc, closed at Rs 3,613.65, slipping 0.60 percent as compared to the previous closing levels of Rs 3,636.55 apiece.
Having a look at the financials of the company, the operating revenues as well as net profit figures slipped from their previous levels recently with the former reducing from Rs 491.15 crores during Q1FY23-24 to Rs 471.79 crores during Q2FY23-24, and, the latter, during the same period, declining marginally from Rs 61.53 crores to Rs 60.58 crores.
The company’s stock hit its 52-week high price in May 2023 at Rs 4,922, and, comparing the same with the current price level, the stock portrays a discount of about 27 percent.
Written by Amit Madnani
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