Making sense of accumulating growth stocks that are undervalued

accumulating growth stocks

by 5paisa Research Team Last Updated: May 27, 2022, 12:33 PM IST

Falling market often leads to southwards valuations. This makes a great opportunity for investors to accumulate growth stocks at a bargain. Read on to find out more. 

Domestic benchmark indices jumped higher, following the positive cues from Asian counterparts. At the opening bell, Nifty 50 began the session near the 16,300 level. The surge in Nifty 50 was backed by IT, banking, financial and auto stocks. 

At the time of writing, Nifty 50 was trading up 0.46% (75 points) at 16,247. Broader market indices such as Nifty Mid-Cap and Nifty Small-Cap indices outperformed the frontline indices as they were trading at 0.86% and 0.76%, respectively on the northwards. 

The most recent Fed meeting minutes cooled anticipation that the American central bank would grow more hawkish, easing concerns about the US Fed's aggressive rate-tightening policy. 

Post the positive retail earnings outlook and concerns surrounded by the aggressive interest rate hikes by the Federal Reserve starting to fade, Wall Street ended sharply higher on Thursday. 

On Wednesday, authorities of China held an unprecedented nationwide meeting via teleconference to boost its economy affected due to Covid. Premier Li Keqiang warned of difficulties to be even greater than the severe shock of the pandemic witnessed in the year 2020. 

Having said that, Nifty 50 is still moving in a range-bound trade between 15,700 to 16,400 from the past 14 trading sessions. Hence, it is clear that it is forming a base for its next move. Hence, the immediate support and resistance levels for Nifty 50 is placed at 15,850 and 16,400, respectively. In this article, we have listed the top growth stocks from Nifty 500 universe that are available for a great bargain. 

Stocks 

CMP (Rs) 

Market Cap (Rs Crore) 

EPS TTM Growth (%) 

PE TTM 

Price To Book 

Oil And Natural Gas Corporation Ltd. 

144 

1,85,119 

4,783 

4.1 

0.7 

HEG Ltd. 

1,087 

4,195 

2,507 

9.7 

1.2 

Graphite India Ltd

440 

8,605 

1,678 

17.0 

1.9 

Prestige Estates Projects Ltd

423 

16,973 

1,055 

10.9 

2.4 

Mahindra & Mahindra Ltd. 

930 

1,15,617 

1,014 

19.1 

2.0 

About the Author

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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SENSEX
52,727.98
462.26 (0.88%)
Nifty 50
15,699.25
142.60 (0.92%)
Nifty Bank
33,627.45
492.45 (1.49%)

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