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These 7 Nifty stocks down over 30% from 52-week highs likely to see good upside – In Bear Grip​

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Nifty stocks to buy: These 7 Nifty stocks down over 30% from 52-week highs likely to see good upside – In Bear Grip​ | The Economic Times

Indian equities are trading on a volatile note for quite some time. In 2022, the benchmark index Nifty has gained about 2.5 per cent. However, 22 stocks from the index are underperforming the benchmark. From that list, ETMarkets found seven stocks that have slipped 30 per cent from their 52-week high levels. However, the outlook of most of the stocks looks promising and they are likely to see a good upside, according to the trendline forecaster.

Further investigation of data shows that in five stocks, the current P/E is lower than Industry P/E. In general, if the P/E of a stock is lower than its industry P/E, then it’s considered to be undervalued in comparison to peers.

iStock

Wipro | Fall from 52-week high: 45%​

2/8

Wipro | Fall from 52-week high: 45%​

CMP: Rs 404.90 | 52-Week Price: Rs 739.85

The stock TTM P/E is 17.70, which is lower than Industry P/E of 26.95. According to Trendlyne data, the average estimated share price target is Rs 449.20, a potential upside of around 10.94%.

ETtech

Tech Mahindra | Fall from 52-week high: 43%​

3/8

Tech Mahindra | Fall from 52-week high: 43%​

CMP: Rs 1056.15 | 52-Week Price: Rs 1838

The stock TTM P/E is 21.36, which is lower than Industry P/E of 26.95. According to Trendlyne data, the average estimated share price target is Rs 1170.40, a potential upside of around 10.82%.

ETtech

HCL Technologies | Fall from 52-week high: 34%​

4/8

HCL Technologies | Fall from 52-week high: 34%​

CMP: Rs 914.00 | 52-Week Price: Rs 1377.75

The stock TTM P/E is 22.80, which is lower than Industry P/E of 26.95. According to Trendlyne data, the average estimated share price target is Rs 1077.60, a potential upside of around 17.90%.

Agencies

Divi's Laboratories | Fall from 52-week high: 33%.

5/8

Divi’s Laboratories | Fall from 52-week high: 33%.

CMP: Rs 3631.55 | 52-Week Price: Rs 5425.10

The stock TTM P/E is 31.24, which is lower than Industry P/E of 38.37. According to Trendlyne data, the average estimated share price target is Rs 4115.70, a potential upside of around 13.33%.

iStock

​Bharat Petroleum Corporation | Fall from 52-week high: 31%​

6/8

​Bharat Petroleum Corporation | Fall from 52-week high: 31%​

CMP: Rs 322.90 | 52-Week Price: Rs 470.00

The stock TTM P/E is 70.28, which is higher than Industry P/E of 25.73. According to Trendlyne data, the average estimated share price target is Rs 400.80, a potential upside of around 24.13%.

Hindalco Industries | Fall from 52-week high: 34%

7/8

Hindalco Industries | Fall from 52-week high: 34%

CMP: Rs 421.45 | 52-Week Price: Rs 636.00

The stock TTM P/E is 15.76, which is higher than Industry P/E of 10.17. According to Trendlyne data, the average estimated share price target is Rs 527.30, a potential upside of around 25.12%.

Oil & Natural Gas Corporation | Fall from 52-week high: 32%

8/8

Oil & Natural Gas Corporation | Fall from 52-week high: 32%

CMP: Rs 133.20 | 52-Week Price: Rs 194.95

The stock TTM P/E is 3.27, which is lower than Industry P/E of 3.40. According to Trendlyne data, the average estimated share price target is Rs 171.30, a potential upside of around 28.60%.

Reuters



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