Nifty 50 Stocks at Discount: These companies declined over -40% from their Highs!
The NSE’s
Nifty 50
has declined over -12.51% in 2022 YTD and only 9 out of the 50 Nifty constituent stocks have given positive returns this year. The remaining companies are in “RED” so far and most of them are trading at a significant discount amid the bear phase.
Six of these 50 Nifty stocks are currently trading at a discount of over -40% from their 52-week highs. These are Hindalco (NS:
HALC
) (-50.00%), Tech Mahindra (NS:
TEML
) (-46.66%), Tata Steel (NS:
TISC
) (-44.97%), Wipro (NS:
WIPR
) (-44.31%), Shree Cements (NS:
SHCM
) (-41.34%) and Bajaj Finserv (NS:
BJFS
) (-40.72%).
(Source: Tradebrains.in)
Three of the Nifty 50 companies are also trading near their 52-week low: UPL Ltd (NS:
UPLL
), Tata Steel, and Axis Bank (NS:
AXBK
). The shares of steel giant Tata Steel Limited declined more than 4.25% in the first half of the trading session on Wednesday and hit their new 52-week low of Rs 842 per share. On the other hand, UPL has declined by -6.23% today to reach its 52-week low of Rs 613.45, and Axis bank is trading at its 52-week low price of Rs 626.40 per share.
Looking into the winning stocks in the Nifty 50 constituents this year, ITC Ltd (NS:
ITC
) has given the highest returns of 21.20% in 2022 YTD. Othe Nifty 50 companies that have given positive returns this year are Mahindra & Mahindra Limited, Coal India (NS:
COAL
) Ltd, Bajaj Auto (NS:
BAJA
) Ltd, NTPC Limited (NS:
NTPC
), Reliance Industries Ltd (NS:
RELI
), Maruti Suzuki (NS:
MRTI
) India Ltd, Power Grid (NS:
PGRD
) Corporation of India Limited, and Hero Motocorp (NS:
HROM
) Ltd.

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