Indian markets face worsening economic conditions with the Feds and RBI’s interest rate hikes. The US Federal Reserve increased its interest rates by 75 basis points on Wednesday.
In the last week, RBI Governor announced the hike of interest rates by 50 bps. Fitch ratings stated that Reserve Bank would likely raise interest rates to 5.9% by December 2022, due to the deteriorating inflation outlook.
The markets are facing a lot of panic, causing the Nifty50 to drop 500 (-3.22%) points on Thursday. Nifty50 closed at 15,293.50 points as of Friday
The falling markets have given an opportunity to buy blue-chip stocks at a discount. Here are six blue-chip stocks trading at their 52-week low.
Pidilite Industries Limited
The company is a leading manufacturer of adhesives and sealants, craftsmen products, construction chemicals, DIY products and polymer emulsions in India.
The Company touched the 52-week high of ₹2,764 on 13th January 2022. The share made a fresh 52-week low of ₹1988.55 and closed at ₹1999.10 on Friday. It is trading at a discount of 27.72% from its 52-week high.
Leading brokerage firm Citi has given a buy call on the company with a target price of ₹2,440 which is an upside of 21.93%.
Tata Consultancy Services Limited
The company is engaged in the business of IT services, consulting and business solutions. It is a flagship company and a part of the Tata group.
The Company touched the 52-week high of ₹4,043 on 18th January 2022. The share closed at ₹3,104 on Friday. It is trading at a discount of 23.21% from its 52-week high.
Emkay Global has a buy call on Tata Consultancy Services with a target price of ₹4000 which is an upside of 29%.
UltraTech Cement Ltd
The company is leading in the manufacture, and sale of cement & cement-related products in India.
The Company touched the 52-week high of ₹8,269 on 8th November 2021. The share closed at ₹5,182.45 on Friday. It is trading at a discount of 37.56% from its 52-week high.
Emkay Global Financial Services has a buy call on UltraTech Cement with a target price of ₹7,300 which is an upside of 41.11%.
HDFC Bank Limited
The company is engaged in providing a range of banking and financial services including retail banking, wholesale banking and treasury operations.
The Company touched the 52-week high of ₹1,725 on 18th October 2021. The share made a fresh 52-week low of ₹1,271.60 and closed at ₹1296.70 on Friday. It is trading at a discount of 25% from its 52-week high.
ICICI Securities has a buy call on the company with a target price of ₹1,955 which is an upside of 51.41%.
Asian Paints Ltd
The company is a leading paint manufacturer in India. It is engaged in the business of manufacturing varnishes, enamels or lacquers, surfacing preparation, organic composite solvents and thinners.
The Company touched the 52-week high of ₹3,590 on 10th January 2021. The share made a fresh 52-week low of ₹2,560 and closed at ₹2,581 on Friday. It is trading at a discount of 28.12% from its 52-week high.
ICICI Securities has a hold call on the company with a target price of ₹3200 which is an upside of 23.72%.
Infosys Ltd
The company is a leading provider of consulting, technology, and next-generation digital services in India.
The Company touched the 52-week high of ₹1,953.90 on 17th January 2021. The share made a fresh 52-week low of ₹1,367.15 and closed at ₹1,394.85 on Friday. It is trading at a discount of 29% from its 52-week high.
Emkay Global has a buy call on Infosys with a target price of ₹1,970 with an upside of 42%.
Written By – Aaron Vas
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