Stocks To Buy: Bluechip Stocks That Are Down More Than 30% From Highs
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LIC Housing Finance
| Current market price | 52-week high | Fall |
|---|---|---|
| Rs 382 | Rs 542.5 | 30.00% |
LIC Housing Finance is among the top housing finance companies in the country. The stock has also fallen into bear territory with the present drop in price as the stock is below its 200-day moving average of Rs 431 and also below its book value of Rs 417. The dividend yield on the stock is more than 2%.
Aurobindo Pharma
| Current market price | 52-week high | Fall |
|---|---|---|
| Rs 674 | Rs 1063 | 36.59% |
The fall in the stock price of Aurobindo Pharma from 52-week highs is even sharper at 36%. Like LIC Housing Finance, this stock also has gone into bear territory with the 200 day moving average higher at Rs 849.
A fully integrated pharma company, Aurobindo Pharma features among the top 2 companies in India in terms of consolidated revenues. Aurobindo exports to over 155 countries across the globe with more than 90% of its revenues derived from international operations. The stock could be an interesting defensive stock to buy if the markets fall due to the spread of the Omicron variant.
Amara Raja Batteries
| Current market price | 52-week high | Fall |
|---|---|---|
| Rs 632 | Rs 1021 | 38.34% |
The stock of Amara Raja Batteries is now down nearly 38% from 52-week highs. Amara Raja Batteries is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry.
The Company is a leading manufacturer of automotive batteries and home UPS/Inverter batteries under the brands Amaron. The company supplies automotive batteries under OE relationships to Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, Ashok Leyland, and Tata Motors, Honda Motorcycles & Scooters India Private Ltd, Royal Enfield, Bajaj Auto Ltd among others.
L&T Finance Holdings
| Current market price | 52-week high | Fall |
|---|---|---|
| Rs 78.85 | Rs 113.45 | 30.47% |
This stock is also down more than 30% and is below its 200 day moving average of Rs 90. In case the shares see a further downside due to the Omicron virus risk, it could be an interesting stock to buy, given its strong pedigree.
L&T Finance Holdings is a leading, well-diversified Non-Banking Financial Company (NBFC) with a focused range of financial products and services across rural, housing and infrastructure finance along with mutual funds. The company is promoted by Larsen & Toubro Ltd.
Disclaimer
Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, and the author, are not liable for any losses caused as a result of decisions based on the article.
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