IPCALAB, LUXIND & ZENSARTECH & Others with 22%-52% Discount

Announcement by US Fed to curtail inflation by raising interest rates had huge impact on the Indian capital markets as it tumbled under pressure from FII outflows during the month. By end of January Indian capital markets had witnessed huge correction in most of the Nifty Index stocks. A huge number of stocks were trading at discount. It included sectors like IT, Healthcare Services, Pharma, Telecom and Textiles where huge correction was witnessed. Majority of stocks belonged to Nifty500 and remaining four were from Nifty200 index. A number of stocks along with LUXIND & ZENSARTECH were available at huge discount.

Table: Stocks at Discounted level

Ipca Laboratories (NSE: IPCALAB) witnessed the steepest decline in the month with 52% correction in its stock prices.  The other two stocks in top three were from telecom sector.  Vodafone Idea (NSE: IDEA) and Sterlite Technologies (NSE: STLTECH) both declined by 32% and 28% respectively.

Textile player Lux Industries (NSE: LUXIND) and healthcare service provider Metropolis Healthcare (NSE: METROPOLIS) were two different sector stocks with similar price decline. Both stocks declined by 27%. Dr Lal Pahtlabs (NSE: LALPATHLAB) was another healthcare services stock in the list with 23% price decline in a month.

Spandana Sphoorty Financial (NSE: SPANDANA) was the only financial services stock in the list with 26% price decline in a month. IndiaMart InterMesh (NSE:INDIAMART) was also the only financial services stock in the list with a major price decline. INDIAMART price declined by 24% during January.

Hinduja Global Solutions ( NSE: HGS) and Zensar Technologies (NSE:ZENSARTECH) were the IT services stocks in the list. Both witnessed price decline of 23% and 22% respectively.

Disclaimer: This is an analytical representation of a trend and not a buy recommendation. Individuals need to assess the opportunity themselves or with experts.