2 Stocks that Fell Over 14% From Their 52-Week Highs But Could Be a Good Buy

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2 Stocks that Fell Over 14% From Their 52-Week Highs But Could Be a Good Buy

By Aditya Raghunath

Investing.com -- When Nifty and the BSE Sensex recently hit their record highs, earlier this month, a lot of stocks hit their 52-week highs. However, these stocks came down from their highs just as quickly.

Experts say that there are a few stocks from this category, though, which have the potential to get back up. The stocks here are:

  1. National Aluminum Co. Ltd. (NS: NALU )

52-week high: Rs 97.45

Date of 52-week high: Aug 5

Current price as of this report: Rs 83.25

Percentage drop: Down 14.5%

Expert view: Motilal Oswal Financial Services Ltd (NS: MOFS ) says Nalco can hit Rs 107. It said, “We value the stock on a SoTP basis at 5x FY23E EV/EBITDA and at 0.75x book value for growth CWIP to arrive at our TP of INR107. At the CMP, it provides an attractive dividend yield of ~5%. We maintain our Buy rating.”

  1. Rain Industries Ltd (NS: RAID )

52-week high: Rs 272.75

Date of 52-week high: July 29

Current price as of this report: Rs 234.25

Percentage drop: 14.1%

Expert view: LKP Securities has a target of Rs 280 for this stock. “One can buy the counter at around Rs 240 to Rs 245 levels for the target of Rs 280 with a stop loss at Rs 230,” LKP said to Mint.

 

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