7 Good Quality Pharma & IT Stocks Near 52- week Lows, Should You Buy?
It has been a good going for the markets in the last few months. The Sensex hit a new record high and crossed the 63,000 points mark.
However, it has not been good going for the IT sector as fears of recession abound.
Here are few stocks that you should take a look at: Pharma and IT stocks near 52- week lows
Current market price Gap from low Natco Pharma 549 553 0 .80 % Aurobindo Pharma 435 437 0 .59 % Metropolis Health 1277 1287 0 .76% Mphasis 1898 1925 1 .52 % Wipro 374 385 4 % Tech Mahindra 944 1008 6 .74 % Thyrocare Technologies 600 609 1 .58%
What do you do with these IT and Pharma stocks?
Understand the way some of these stocks have fallen, especially from the IT sector, nobody would have expected.
In fact, largecap IT stocks have fallen as much as 44 %. Where the bottom would be, nobody seems to know.
Overall, the trend of the markets has been buoyant and these stocks have been falling.
Some of these stocks like Tech Mahindra have now turned attractive for their dividend yields.
Brokerages have buy on Natco Pharma, Tech Mahindra
Individual brokerages have a buy call on select stocks from the sector.
For example, Geojit a few weeks back had a buy call on Natco Pharma for a price target of Rs 704, which is a significant upside from current levels.
Again, brokerages also had a buy call on the stock of Tech Mahindra.
Accenture Plc has already warned that a pullback in spending from clients who were postponing business improvement projects, especially in retail, was hurting its consulting business and forecast quarterly sales that could miss market estimates.
The stocks have been picked from brokerage.
Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article.
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By Sunil Fernandes Goodreturns source: goodreturns.in Dailyhunt