NEW DELHI: At least nine Nifty50 stocks have run out of favour with market participants, having fallen 15-20 per cent from their 52-week highs.
While some of these stocks such as Mahindra & Mahindra, Asian Paints, Maruti Suzuki and Tech Mahindra have seen weakness only in the past two months, others such as Coal India, Britannia Industries and Hindustan Unilever have not participated in the rally since March-July 2020.
Analysts said most of these stocks offer value and can be good buys at current price levels.
Asian Paints on Tuesday traded marginally down at Rs 2,380, which was 20 per cent below its 52-week high of Rs 2,873. Edelweiss said correction in Asian Paints shares is overdone.
Explore Now
MUMBAI: IT major Tech Mahindra has said it sees a growth in the headcount going forward and expects 5,000 freshers to join its workforce by June this year. The Mahindra Group company had an employee base of over 1.21 lakh as of December 31, 2020 and the utilisation had stood at an all-time high of 87 per cent. The way to look at it is that we will see headcount growth going forward, its Chief Financial Officer Manoj Bhat told analysts over a call recently. Our plan now is our campus recruitment programme has already started recruiting this quarter and over the next two quarters, we expect about 5,000 people to join. So I think on all fronts we are adding capability and talent, he added.