3 Bluechip Stocks To Buy Next Week At Near 52-Week Lows

Stocks have fallen a tad bit this week following simmering tensions around the Russia-Ukraine border. Here are a few stocks that you could buy next week, which are trading near 52-week lows.

Kalyani Steels

The stock is trading at Rs 293, as against the 52-week price of Rs 280. The shares of Kalyani Steels is fundamentally also sound, having a long standing track record of producing alloy steel, with a good dividend paying track record.

In fact, the shares are available at a p/e of just 6 times 2021-22 likely EPS of Rs 50. The company also had a good quarterly performance for the quarter ending Dec 31, 2021. The company reported a revenues of Rs 4,066.98 million, while the net profits came in at Rs 427.81 million.

As the economy recovers we believe that the earnings would be even much better. Buy the stock as the valuations like p/e and p/e book are low, demand outlook is good and dividend yield on the stock is almost 2.5%.

LIC Housing Finance

This is another stock that has the potential to rise and is not too far away from its 52-week low price of 330.
The company reported a much better performance than in the past few quarters. LIC Housing Finance's net profit grew 6 per cent year-on-year to Rs 767.33 crore in the quarter ending Dec 31, 2021.

The company's net interest income gained 14 per cent to Rs 1,455 crore in Q3FY22 against Rs 1,281 crore in the year-ago quarter. The total outstanding portfolio also was much better at 11% growth Rs 2,43,412 crore in the December 2021 from Rs 2,20,197 crore a year ago.

Overall, we believe that the housing sector is expected to do very well in the next 5-years or so. Industry status for low cost housing, tax benefits for home loan borrowers and various housing schemes run by the government would boost the sector. Buy the shares of LIC Housing for good gains.

Bajaj Auto

Bajaj Auto is another share that we like and that could be bought into next week, when the markets open. The company's stock at Rs 2580 is available at a dividend yield of nearly 4%. The cash and cash equivalents of the company is more than Rs 17,000 crores. The company is now making a serious foray into electric vehicles.

To demand for electric vehicles has been growing and Bajaj Auto is planning to double its electric scooter Chetak's network in the coming few weeks.  The company has already doubled the Chetak network in the first 6 weeks of 2022, adding New Delhi, Mumbai, and Goa to the list of locations where it is available. 
Overall, we believe that the company would continue to do well in the years to come, as it has a strong network, good brand equity and reasonable valuations. In fact, the stock is trading at a p/e of just 15 times one year forward earnings, when compared to the Sensex p/e of 22 times. Buy the stock for long-term gains.
The share price of Bajaj Auto last closed at Rs 3634 on the NSE.