Today’s stock market: A number of quality stocks have retraced due to profit-taking in the recent sell-off triggered by the outbreak of the Russia-Ukraine war. Indeed, some quality stocks have retraced from 523-week highs to around 52-week lows. Here are 5 stocks that have retraced up to 38% from their 52-week highs and are very close to their 52-week lows:
Bajaj Finserv: This mid-cap stock closed Friday at 11,831 per share, with a 52-week high of 19,325 per share. This means that the stock is trading at about 38% of its 52-week high, while its 52-week low is $10,727 per share. This means that the financial stock is only 10% above its 52-week low.
HDFC Bank: On Friday, this banking stock closed at 1364 per share. Its 52-week high is 1725 per share, while its 52-week low is 1271.60 per share. This means that HDFC Bank’s share price is trading at a discount of about 21% to its 52-week high, while it is trading at a premium of about 7% to its 52-week low. In other words, HDFC Bank’s share price has retraced 21% of its 52-week highs and is up more than 7% from its 52-week lows.
Axis Bank: This banking stock closed Friday at $662.50 per share. The 52-week high for Axis Bank shares is 866.90, while the 52-week low is 618.25. As a result, the stock is trading 23.50% lower than its 52-week high, while it is trading around 7% lower than its 52-week low. The banking stock, which has a market cap of 2.03 lakh crore, has delivered zero returns in the last year and YTD.
Dr Reddy’s Lab: This pharmaceutical stock is currently trading at 4532.55 per share. It has a 52-week high of $5,447 per share and a 52-week low of $3,654 per share. This means Dr Reddy’s share price is about 17% lower than its 52-week high and 24% higher than its 52-week low. This pharma stock has lost more than 15% in the last year, while it has lost more than 6% year to date, giving its shareholders no return in the last year and in 2022.