On Friday, the BSE Sensex was up 89.13 points or 0.15 per cent and closed at 58,387.93, while the Nifty50 was up 15.5 points or 0.09 per cent and ended at 17,397.5. However, there are certain stocks that have gone sideways as they announced their quarterly results.
Here are three stocks with good fundamentals which are currently trading near their 52-week low but analysts see an upside of up to 45%:
Indian Oil Corporation Limited
The shares of Indian Oil Corporation reached their 52-week low of Rs 67.70 in August 2021. The stock is trading near its 52-week low again. On Friday the stock gained 2.5% up and closed at Rs 73. The stock has been volatile and has shed more than 10% YTD.
In Q1FY23, its total revenue stood at Rs 2,55,381 Crores, up 63% from Rs 1,56,519 crores which it earned in the same period a year ago. Their net profit stood at Rs 515 Crores in the quarter as against Rs 5,793 Crores which the company reported in Q1FY22.
Emkay Global has a ‘Buy’ call on the stock with a target price of Rs 90 per share which represents an upside of 25% from the current levels.
Indian Oil Corporation Limited is an Indian government-owned oil and gas explorer and producer. It is the largest government-owned oil corporation. The company has the largest and the widest network of petrol and diesel stations in the country.
Finolex Industries Limited
The shares of Finolex Industries Limited reached their 52-week low of Rs 125 in June this year. The stock is trading near its 52-week low again. On Friday the stock shed 0.5% and closed at Rs 135. The stock has been volatile and has shed more than 34% YTD.
In the first quarter of FY23, the company reported total revenue of Rs 1,189 Crores up from Rs 965 Crores which it earned in the same period a year ago. Its net profit was at Rs 100 Crores in the quarter down from Rs 147 Crores which it reported in Q1FY22.
IDBI Capital has a ‘Buy’ call on the stock with a target price of Rs 195 which represents an upside of 45% from the current levels.
Finolex Industries Limited (FIL) is a leading manufacturer of PVC Resin and the largest producer of PVC Pipes & Fittings in India. It offers the latest range of superior quality and durable PVC-U pipes and fittings used in agriculture, construction, and industrial operations.
GAIL (India) Limited
The shares of GAIL (India) Limited reached their 52-week low of Rs 125 in December 2021. The stock is back near its low again On Friday the stock shed 5% and closed at Rs132. The stock has been volatile and has gained only 1% YTD.
In the first quarter of FY23, the company gained Rs 37,896 crores in revenue as compared to Rs 17,571 Crores which it earned in the same quarter a year prior. Their net profit stood at Rs 2,923 Crores up from Rs 1,727 Crores in the year-ago period.
HDFC Securities has a ‘Buy’ call on the stock with a target price of Rs 180 which represents an upside of 37% from the current levels.
GAIL (India) Limited (formerly known as Gas Authority of India Ltd.) is a government-owned natural gas explorer and producer and is responsible for natural gas processing and distribution in India.
Written by – Anoushka Roy
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