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42 stocks from BSE500 index trade near 52-week lows; do you own any?

As many as 42 stocks from the S&P BSE500 index are trading close to their respective 52-week lows on the Bombay Stock Exchange (BSE). These are the stocks that are both less than 10 rupees and 10 per cent away from their respective previous year low levels (as per the closing prices on September 17). 

A chunk of the list belongs to bank stocks. Seeking to spur lending needed to revive economic growth, the government last month announced a merger of smaller banks to create four new lenders that would hold more than half of the Indian banking industry’s assets.

Stocks of Corporation Bank, Canara Bank, Punjab National Bank, Union Bank of India, Oriental Bank of Commerce, Allahabad Bank, Indian Bank-- all part of the extensive consolidation of state-owned banks -- feature in this list, ACE Equity data show.

 
Besides, the list also includes debt-ridden Indiabulls Real Estate whose stock has tanked 48 per cent from a level of Rs 112 in the last two months. In comparison, the benchmark S&P BSE Sensex was down 6 per cent and S&P BSE Realty index slipped 9.5 per cent during the same period.

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Some of the stocks' fall may be attributed to industry-wide slowdown. For instance, Ashok Leyland has slipped 14 per cent from its level of Rs 70 touched on July 31 after it reported a 45 per cent year-on-year (YoY) drop in profit in its June quarter results amid the downturn in automobile sector.

Equities have witnessed sharp correction owing to multiple headwinds -- both domestic and global -- that have prompted investors to take risk off the table. Investor concerns about a slowdown in the domestic economy and fears of a global recession were exacerbated when Finance Minister Nirmala Sitharaman announced a proposal to hike surcharge on foreign portfolio investors. The decision was reversed only after the spooked foreign investors withdrew more than Rs 24,500 crore from domestic equities in July and August.

Subdued corporate earnings, uncertainty over US-China trade talks, Brexit, volatility in crude oil prices are some of the key issues that have kept the investors on tenterhooks. 

On a year-to-date (YTD) basis, the S&P BSE Sensex has gained 0.9 per cent, while the S&P BSE 500 index has underperformed the market by slipping around 4 per cent during the same time period. In fact, the S&P BSE500 index itself is 750 points away from its 52-week low level of 13,287 touched on October 26, 2018.

Company 52Wk Low Date 52Wk Low Price Latest Price Difference (in Rs) % chg
Omaxe  12-Sep-19 192.95 193.50 0.55 0.29
Corporation Bank 17-Sep-19 16.55 16.60 0.05 0.30
Indian Bank 17-Sep-19 158.50 159.15 0.65 0.41
Indostar Capital Finance  17-Sep-19 261.45 263.25 1.80 0.69
Indiabulls Real Estate  17-Sep-19 61.80 62.35 0.55 0.89
ITC  23-Aug-19 234.70 237.15 2.45 1.04
PNB Housing Finance  05-Sep-19 620.00 627.15 7.15 1.15
LIC Housing Finance  05-Oct-18 387.60 392.10 4.50 1.16
Cummins India  22-Aug-19 554.45 561.15 6.70 1.21
Godrej Industries  05-Sep-19 396.10 404.15 8.05 2.03
ITD Cementation India  04-Sep-19 65.70 67.05 1.35 2.05
Canara Bank 05-Sep-19 190.35 194.35 4.00 2.10
Somany Ceramics  11-Sep-19 200.00 204.50 4.50 2.25
MOIL  23-Aug-19 118.50 121.35 2.85 2.41
Ircon International  29-Aug-19 333.30 342.30 9.00 2.70
Ambuja Cements  04-Sep-19 188.50 194.35 5.85 3.10
L&T Finance Holdings  23-Aug-19 88.60 91.85 3.25 3.67
Exide Industries  23-Aug-19 168.00 174.95 6.95 4.14
Bharat Heavy Electricals  23-Aug-19 46.65 48.75 2.10 4.50
UCO Bank 23-Aug-19 14.10 14.75 0.65 4.61
Syndicate Bank 23-Aug-19 29.10 30.45 1.35 4.64
The New India Assurance Co  23-Aug-19 100.50 105.30 4.80 4.78
Chennai Petroleum Corporation  11-Jul-19 176.05 184.75 8.70 4.94
DB Corp  04-Sep-19 131.40 138.00 6.60 5.02
Vodafone Idea  29-Aug-19 4.83 5.08 0.25 5.18
Ashok Leyland  23-Aug-19 56.95 59.95 3.00 5.27
Bank Of India 23-Aug-19 61.40 64.80 3.40 5.54
Asahi India Glass  27-Aug-19 170.00 179.60 9.60 5.65
Indian Energy Exchange  13-Sep-19 112.00 118.45 6.45 5.76
HSIL  30-Aug-19 43.55 46.25 2.70 6.20
Punjab National Bank 01-Oct-18 58.65 62.40 3.75 6.39
Gujarat Pipavav Port  08-Aug-19 74.00 78.95 4.95 6.69
Bank Of Baroda 30-Aug-19 89.10 95.15 6.05 6.79
Union Bank Of India 04-Sep-19 52.40 56.15 3.75 7.16
Oriental Bank Of Commerce 09-Oct-18 58.10 62.30 4.20 7.23
The Karnataka Bank  23-Aug-19 71.90 77.10 5.20 7.23
IDFC  14-Aug-19 31.75 34.15 2.40 7.56
Allahabad Bank 23-Aug-19 30.00 32.45 2.45 8.17
Ashoka Buildcon  05-Sep-19 89.85 97.75 7.90 8.79
Nava Bharat Ventures  28-Aug-19 77.50 84.35 6.85 8.84
The South Indian Bank  23-Aug-19 10.10 11.03 0.93 9.21
Star Cement  13-Feb-19 85.00 93.25 8.25 9.71

(Source: AceEquity)