7 Large & Micap Stocks That Are Just 5% Away From New 52-week Lows

At the outset, please be informed that we are just highlighting stocks that are near 52-week lows. This should not be construed as a "buy" call. The article is purely informational only.

Here are a list of 7 stocks that are just 5% away from 52-week lows

Current market price	Current market price	% away from 52-week lows
Zee Entertainment	Rs 187	5.71%
Amber Enterprises	Rs 1837	1%
Sumitomo Chemical	Rs 412	4.29%
Metropolis Health	Rs 1225	4.43%
Max Financial	Rs 618.60	2.26%
Indus Towers	Rs 138	2.07%
Rajesh Exports	Rs 546	5.10%

Markets to remain rangebound with positive bias

Nifty opened positive and moved in a narrow range to close with marginal gains of 26 points at 17769 levels. PSU banks were the biggest gainers on expectation of strong results. Apart from this, railway stocks saw huge interest on account of higher government capex allocation towards the sector. Mankind Pharma hit the street today with IPO size of Rs4326 crore. The issue will close on 27th April. The company is a major domestic player in healthcare products with leadership in many brands.

"We expect the market to remain range bound with positive bias driven by results from index heavyweights. So far results from banking sector has been inline to better than expectation leading to outperformance by Nifty Bank Index. This week heavyweights from other sectors like FMCG and Auto would also announce their results. Nestle reported good set of numbers today giving a head-start to the overall consumer space," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

It's important to realize that one needs to do a fundamental analysis before buying into stocks that have fallen. Sometimes for structural reasons there could have been a serious downside, which pushed the stock to a new 52-week low. Investors must study the cash flows and vital ratios before entering into such stocks. Overall, we believe that longterm investors will benefit if the fundamentals are sound of the company. In some of the stocks that are listed above, it is noticed that they have been making lows for a while now. So, please tread with caution before investing.