5 Fundamentally strong stocks that are down more than 40%; Do you have any? | Jobs Vox


After several months of recovery, the Indian stock market has made a U-turn. On Thursday, the Nifty 50 lost 113.90 points or 0.63% to trade at 18,085 in the first half, while the BSE Sensex shed 396.67 points or 0.65% to trade at 60,670 in the first half.

5 paisa Basket Order

With the markets down, here are 5 fundamentally strong stocks that are trading at a discount of more than 40 percent from their highs:

Tech Mahindra Limited

Shares of Tech Mahindra were trading marginally lower at Rs 1,020 in the early hours of Thursday. The stock has been volatile, falling about 4 percent in the past month. In January of this year, the shares reached a 52-week high of 1,838 dinars. It is currently trading at a 44 percent discount to those levels.

Tech Mahindra, part of the Mahindra Group, is an Indian multinational information technology company that provides a comprehensive range of IT services, including IT services, application development and maintenance, consulting and enterprise business solutions, etc.

Trident Limited

Shares of Trident Limited fell 4 percent in the early hours to trade at Rs 32.80. In the past five days, it has weakened by about 10 percent. In the first half of the year, the stock rallied to its 52-week high of Rs 70.35. It is currently trading at a 52 percent discount.

Trident Limited, the flagship company of the Trident Group, is a leading producer of yarn, bath linen, bedding and paper based on wheat straw, chemicals and Captive Power.

Indian Energy Exchange Limited

Shares of the Indian Energy Exchange lost about 2 percent in the first half of Thursday and traded at the level of 138 dinars. In the past five days, it fell by about 7 percent. In the first half of the year, the stock rallied to hit a 52-week high of Rs 272. It is currently trading at a 48 percent discount.

The Indian Power Exchange is India’s premier energy market, an automated trading platform for the physical delivery of electricity, renewable energy and certificates.

Tata Elksi Limited

Shares of Tata Elksi fell more than 3 percent to trade at 6,041 rupees on Thursday. In the past five days, it has weakened by about 8 percent. The stock touched its 52-week high of Rs 10,760 in August this year. It is currently trading at a 44 percent discount.

Tata Elksi is among the world’s leading providers of design and technology services across all industries, including automotive, media, communications and healthcare.

Polyplex Corporation Limited

Shares of Polyplex Corporation were trading 2 percent lower in Thursday’s session at Rs 1,569. Over the course of a month, the stock is down about 14 percent. The stock hit a 52-week high of Rs 2,870.20 in April this year and is currently trading at a 44 percent discount.

Polyplek Corporation manufactures BOPP, Blown PP/PE and CPP films used in the flexible packaging industry and in industrial applications such as release wraps, tapes, labels, etc.

Written by Anushka Roy


The content of this article is not investment advice. Investing in shares represents the risk of financial losses. Investors must therefore exercise caution when investing or trading in shares. Dailyraven Technologies or the author are not responsible for any losses caused as a result of a decision based on this article. Please consult your investment advisor before investing.

To stay up to date with the latest stock market news, download our app here!

For editorial purposes, please contact [email protected]

Start your journey in finance

Want to learn the stock market and other financial products? Be sure to check out FinGrad, Trade Brains’ learning initiative. Click here to register today to start your 3-day FREE trail. And don’t miss the Introductory Offer!!


Source link

Implement tags. Simulate a mobile device using Chrome Dev Tools Device Mode. Scroll page to activate.