Since Tuesday, the Indian stock market has seen significant selling pressure, with the majority of indices closing in the red. This selling spree has had a significant impact on the small-cap and mid-cap indices, which are currently under intense selling pressure.
Here are three debt-free stocks that are currently trading at a discount of more than 25 percent each from their 52-week highs.
Bhansali Engineering Polymers Limited
With a market cap of Rs. 2,167.5 crores, the share price of the company moved up by nearly 3.3% on BSE to Rs. 89 in the morning on Friday, compared to its previous closing price of Rs. 86.16.
Share price of Bhansali Engineering Polymers Limited (BEPL) hit its 52-week high on January 2024 at Rs. 118, and when compared to the current market price, there is a discount of around 24.6 percent.
The company witnessed a fall in the net profit by 16.6 percent QoQ to Rs. 40 crore in Q3 FY23-24 from Rs. 48 crore in Q2 FY23-24.
The company’s revenue from operations decreased by around 7 percent QoQ from Rs. 314 crore in Q2 FY23-24 to Rs. 292 crore in Q3 FY23-24.
The company has given negative returns of about 5.8 percent in the last six months, and around 16.1 percent, so far in 2024. However, it has delivered positive returns of nearly 29.6 percent in the last one year.
Incorporated in 1984, BEPL manufactures Acrylonitrile Butadiene Styrene (ABS) and supports the sale of ABS Resins, AES Resins, ASA Resins and their alloys with other plastics in the Indian Market.
Hathway Cable & Datacom Limited
The share price of the company in the morning trading session jumped by nearly 3.31 percent to Rs. 20.86 on March 15th, compared to its previous closing price of Rs. 20.19 and has a market cap of Rs. 3,589.7 crore.
Share price of Blue Cloud hit its 52-week high of Rs. 27.95 in February 2024, and when compared to the current stock price, there is a discount of around 25.36 percent.
On a quarter-on-quarter basis, the company witnessed a growth in net profit by 10 percent from Rs. 20 crore in Q2 FY23-24 to Rs. 22 crore in Q3 FY23-24.
The company’s revenue from operations also increased by around 4.33 percent QoQ from Rs. 484 crore in Q2 FY23-24 to Rs. 505 crore in Q3 FY23-24.
It has given positive returns of about 12.15 percent in the past six months and nearly 41.96 percent in the last one year. However, so far, the company has given around 6.24 percent of negative returns in 2024.
Hathway Cable & Datacom Limited is one of the leading Cable Broadband service providers in India, also offering cable television services through Hathway Digital Private Limited, the company’s wholly-owned subsidiary and one of India’s largest Multisystem operators.
Blue Cloud Softech Solutions Limited
The company is engaged in the business of designing and developing computer software and marketing, along with data processing services.
With a market capitalisation of Rs. 1,162.4 crores, the share price of the company moved up by nearly 4.18% on BSE at Rs. 54 in the morning trading session of Friday, from its previous closing price of Rs. 51.83.
Blue Cloud’s shares hit a 52-week high on April 2023 at Rs. 98.93, representing a discount of about 45.41 percent from the current market price.
The net profit of the company increased by 18.1 percent QoQ to Rs. 0.91 crore in Q3 FY23-24 from Rs. 0.77 crore in Q2 FY23-24, accompanied by growth in the revenue from operations of about 36.7 percent from Rs. 40.18 crore in Q2 FY23-24 to Rs. 54.93 crore in Q3 FY23-24.
The company has given negative returns of about 12.6 percent in the last six months, and around 8.6 percent, so far in 2024. However, it has delivered positive returns of nearly 72.9 percent in the last one year.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
