Indian equity indices ended the week’s first trading session in the red territory. The BSE Sensex fell 334.98 points or 0.55% at end at 60,506.90 levels and NSE Nifty 50 closed 89.45 points or 0.50%lower at 17,764.60 levels.
As the market sentiment remain weak, here are 4 fundamentally sound stocks trading at a discount of more than 45% from their 52-week high:
Polyplex Corporation Limited
On Monday, the shares of the company ended in green at Rs 1,494 levels. The shares have been in a downward trend and have lost more than 30 percent in the last six months. It reached a 52-week high of Rs 2,870.20 in April last year and is currently trading at a discount of 48 percent from those levels.
In Q2FY23, the company reported a total revenue of Rs 2,089.29 Crore and a net profit of Rs 200.16 Crore. In addition to that, the company has low debt on its balance sheet. The promoters hold a 50.97 percent stake with zero shares pledged.
Polyplex Corporation Limited is engaged in manufacturing of BOPP, Blown PP/PE, and CPP films used in the flexible packaging industry and in industrial usages like release liners, tapes, labels, etc. It has the seventh-largest capacity of polyester (PET) film globally.
Trident Limited
The shares of Trident Limited ended in red on Monday at Rs 32 levels. In the past six months, the shares have shed 20 percent. The shares reached a 52-week high of Rs 63.40 in February last year and are trading 50 percent away from those levels.
In Q3FY23, the company reported a total revenue of Rs 1,641.44 Crore and a net profit of Rs 143.23 Crore. In addition to that, the company has low debt on its balance sheet. The promoters hold a 72.94 percent stake with zero shares pledged.
Trident Limited, the Trident Group’s flagship company, is a leading manufacturer of yarn, bath linen, bed linen, wheat straw-based paper, chemicals, and captive power.
Olectra Greentech Limited
Olectra Greentech saw its shares end marginally higher at Rs 471 levels on Monday. In the past six months, it has declined by 23 percent, and from its 52-week high of Rs 858.50, it is trading 45 percent away.
In the third quarter of FY23, the company reported a total revenue of Rs 256.43 Crore and a net profit of Rs 14.68 Crore. In addition to that, the company has low debt on its balance sheet. The promoters hold a 50.02 percent stake with zero shares pledged.
Olectra Greentech Limited (Olectra), a subsidiary of MEIL Group is India’s first-ever electric bus manufacturer having manufactured and deployed all variants of Electric Buses in India. It is also the largest Pure Electric Bus manufacturer in the country.
Khaitan Chemicals and Fertilizers Limited
Khaitan Chemicals and Fertilizers ended at Rs 66.10 levels on Monday. The stock reached its 52-week high of Rs 157 in April last year. Currently, it is 58 percent away from those levels.
In the December quarter of FY23, the company reported a total revenue of Rs 213.71 Crore and a net profit of Rs 4.88 Crore. The promoters hold a 74.99 percent stake with zero shares pledged.
Khaitan Chemicals and Fertilizers Limited is engaged in the manufacturing of Single Super Phosphate Fertilisers, Sulphuric Acid and its variants, Processing of Oil Seed, and selling of Wind Power. It is the largest manufacturer of Single Super Phosphate (SSP) in India.
Written by Anoushka Roy
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