4 Bluechip Stocks That Hit Their New 52-Week Low Today, Should You Buy?

4 bluechip stocks hit their new 52-week low in trade today. These stocks are Delhivery Ltd, Bandhan Bank Ltd, Voltas Ltd, and Quess Corp Ltd. Should you buy these stocks now? Leading brokerage firms have assigned ratings to these stocks. Check key takeaways pertaining to the stocks below:

1. Delhivery Ltd

The bluechip stock hit its 52-week low in trade today. The stock has fallen 39% in the last 3-months only. The company has a market capitalisation of Rs 25,095.69 crore. The last trading price of the stock is Rs 345 apiece with 52-week high at Rs 708 and 52-week low at Rs 340 apiece. Today, the stock touched Rs 340 yet again.

Leading brokerage ICICI Securities is quite optimistic on Delhivery Ltd and has assigned buy call to the stock with a target price of Rs 460 apiece. If you buy the stock today, you will get a potential return of 32%.

ICICI Securities said, "We value Delhivery using time discounted forward EV/EBITDA multiples. We discount EV calculated at 20xFY26E EV/EBITDA by 1.5 years (at 20% discount rate) to arrive at our price target of Rs460. We believe risk-reward skew for the stock is attractive at current market price (5.3:1). We envisage an upside scenario where the stock re-rates to Rs620 if revenue growth recovery in express parcel and PTL segments are higher than estimates. We assume a downside case where the stock could de-rate to Rs300 if EBITDA margin profitability is pushed beyond Q4FY23 and medium-term revenue growth visibility worsens further due to global headwinds."

Delhivery is an Indian logistics and supply chain company, based in Gurgaon.

2. Bandhan Bank

The stock hit its new 52-week low today. The shares of the bank have fallen 22% in 1-month, 25% in 3-months, 30% in 1-year, and 60% in last 3-year. It was incorporated in 2014.

The bluechip stock has a market capitalisation of Rs 33,980 crore. The stock's last trading price is Rs 210 apiece with 52-week high at 349 apiece and 52-week low is 210 apiece, respectively.

Today, the stock touched its 52-week low of Rs 210 apiece yet again.

Brokerage firm Geojit in its November 2, 2022 report has assigned buy call to Bandhan Bank with a target price of Rs 282. If you buy the stock today, you will get a potential return of 34%.

"The stock is currently trading at attractive valuations, close to its 52-week low share price. Hence, we upgrade our rating on the stock to BUY with a revised target price of Rs 282 based on 1.8 times FY24E book value per share," said Geojit

3. Voltas Ltd

The stock touched its new 52-week low in trade. The stock has fallen 6% in 1-month, 20% in 3-months, and 34% in 1-year. It came into existence in 1954 and operates in Consumer Durables sector.

The last trading price of the stock is Rs 809 apiece with 52-week high at Rs 1347 apiece and 52-week low at Rs 804 apiece, respectively. The company has a market capitalisation of Rs 26,795 crore.

HDFC Securities in its November 3, 2022 report has assigned Accumulate call to Voltas. According to the brokerage, "This performance is in line with the industry's commentary on recovery in the B-B segment. We cut our FY23/24/25 EPS estimates by 8/4/4% to factor in a lower UCP margin. We also cut our target multiple to 38x for UCP business vs. 42x earlier. Our SoTP (UCP/EMPS/EPS P/E at 38/15/15x and Volt-Beko P/S of 4x) on Sep-24 derives a TP of INR 950. Maintain ADD."

4. Quess Corp Ltd

The stock touched its new 52-week low in trade today. The stock declined 23% in 1-month, 25% in 3-months, and 52% in 1-year. The last trading price of the stock is Rs 428 apiece. The company has a market capitalisation of Rs 6,354 crore. The mid-cap company operates in Services sector. The 52-week high is Rs 926 apiece and 52-week low is Rs 426 apiece, respectively.

 

Disclaimer

The stocks have been picked from the brokerage report of ICICI Securities, Geojit, HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage Houses are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.