Adani Total Gas, Adani Transmission, Nykaa among 9 BSE 500 stocks available at up to 80% discount from 52-week highs

Indian Markets have bounced back very smartly after a long period of consolidation. However, there are a few BSE 500 stocks that are still trading at a significant discount from their 52-week highs. Data compiled with the corporate database AceEquity shows that shares of Adani Total Gas, Adani Transmission, Brightcom Group, Gland Pharma, Piramal Enterprises, Adani Green Energy, Tata Teleservices, Tanla Platforms and FSN E-Commerce Ventures are available at a discount of up to 80 per cent from their 52-week highs. Here's everything you need to know:

1. Adani Total Gas

Tuesday's Closing Price: Rs 757.40

52 Week High Price: Rs 3,998.35

Down from 52 week highs: 81%

Shares of Adani Total Gas have recovered over per cent from its 52-week low of Rs 633.35. However, the stock is currently down over 81 per cent from its recent highs.

“Sebi clearance clearly indicates that there is no corporate misgovernance. Earlier, shares of the group fell because of external factors. There’s nothing to do with the business. Adani group of stocks should climb the walls of worry now. The leverage has also been lightened," said Vinit Bolinjkar, Head of Research at Ventura Securities.

2. Adani Transmission

Tuesday's Closing Price: Rs 866.60

52 Week High Price: Rs 4,238.55

Down from 52 week highs: 79.6%

Adani Transmission stock is down over 79.6 per cent from its 52-week high. However, the Adani group stock has recovered over per cent from its 52-week low of Rs 630. The company topped the market capitalisation (m-cap) of Rs 1 lakh crore during Wednesday's trading session. It became the fifth company from the Adani Group with a m-cap of more than Rs 1 lakh crore after Adani Enterprises, Adani Power, Adani Green Energy and Adani Ports & Special Economic Zone.

3. Brightcom Group

Tuesday's Closing Price: Rs 16.51

52 Week High Price: Rs 69.85

Down from 52 week highs: 76%

Brightcom stock took a beating after the Securities and Exchange Board of India issued a show-cause notice-cum-interim order against the company and its directors, alleging major fraud in the company’s financial statements.

The multibagger stock has delivered over 300 per cent return in the last two years and over 590 per cent return in the last 5 years.

4. Gland Pharma

Tuesday's Closing Price: Rs 940.35

52 Week High Price: Rs 3,176.75

Down from 52 week highs: 70%

Shares of Gland Pharma took a beating after the company's March quarter profit plunged 72 per cent, year-on-year (YoY), due to a shutdown at one of its facilities in Telangana and soft demand. The drugmaker's net profit slipped to Rs 79 crore in Q4 FY23 against Rs 285 crore in the same period last year.

The stock was in focus in Tuesday's trading session after the bulk deals data for Monday showed Morgan Stanley Investment Funds Emerging Markets Equity Fund sold 9,60,271 company shares at a weighted average price of Rs 930.69 a piece on NSE, worth Rs 89.37 crore.

5. Piramal Enterprises

Tuesday's Closing Price: Rs 774.15

52 Week High Price: Rs 2,084.45

Down from 52 week highs: 63%

Shares of Piramal Enterprises have recovered over 23 per cent from its 52-week low of Rs 630.20. However, the stock is currently down over 63 per cent from its 52-week high.

The company reported a net loss of Rs 196 crore for the quarter ending March 31, 2023. It reported a net profit of Rs 109 crore in the year-ago period.

The company's consolidated revenue from operations declined 9% to Rs 2,132 crore in Q4FY23 as against Rs 2,347 crore in Q4FY22.

6. Adani Green Energy

Tuesday's Closing Price: Rs 989.50

52 Week High Price: Rs 2,574.05

Down from 52 week highs: 61.6%

Shares of Adani Green Energy have recovered over 125 per cent from its recent lows but they are still down over 61 per cent from its 52-week high.

The Adani Group stock was in focus in Wednesday's trading session as the Adani Group firm postponed its planned board meeting on fundraising scheduled for Wednesday due to the non-availability of directors.

In a filing to stock exchanges on Tuesday, Adani Green Energy said: "It may please be noted that on account of the non-availability of Directors, the meeting of the Board of Directors is now cancelled. The next date of the meeting will be informed with a fresh notice," the Adani firm said in a stock exchange filing.

7. Tata Teleservices (Maharashtra)

Tuesday's Closing Price: Rs 61.46

52 Week High Price: Rs 149

Down from 52 week highs: 58.8%

Shares of Tata Teleservices have delivered multibagger returns to their long-term investors as the stock is up over 1,130 per cent in the last 5 years. The stock touched a 52-week low of Rs 49.80 on March 29, 2023.

8. Tanla Platforms

Tuesday's Closing Price: 719.35

52 Week High Price: 1,447

Down from 52 week highs: 50%

Shares of Tanla Platforms have delivered over 19,000 per cent return to its long-term investors in the last 10 years. This multibagger stock has also delivered over 2,200 per cent return in the last five years.

Brokerages continue to maintain their bullish stance on this multibagger stock after the March quarter results as they believe that the margin recovery in the enterprise segment came as a positive surprise.

9. FSN E-Commerce Ventures

Tuesday's Closing Price: Rs 128.30

52 Week High Price: Rs 257.14

Down from 52 week highs: 50%

Nykaa is set to announce its results for the period ended on March 31, 2023, on Wednesday and analysts expect the company to report a good set of numbers in the seasonally weak quarter for the company with some tailwinds.

In April 2023, the Falguni Nayar-led beauty, wellness and fashion products e-commerce site appointed Rajesh Uppalapati as the Chief Technology Officer and P Ganesh as the Chief Financial Officer.  

Nykaa made its market debut at Rs 2,001 per share on the BSE against the IPO issue price of Rs 1,125. The stock took a beating after the company's lock-in period expired for pre-IPO investors.

Disclaimer

The stocks mentioned in the story are for information purposes only. Investors or market participants should consult their financial advisors before taking any position

Also read: Adani Enterprises, Adani Transmission, Adani Green stocks in focus as Rajiv Jain's GQG may buy $1 billion worth shares

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