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The Asian Stock markets ended the trading session lower and US stock markets were lower as well after disappointing job numbers. Investors were worried about the state of US economy as unemployment rate remained at 9.1 per cent. Dow Jones Industrial Average was down by nearly 2.2 percent.
Indian Markets ended the week in positive territory with BSE Sensex at 16821 and NSE Nifty ruling above 5000 mark at 5040.
As the markets are trading lower compared to earlier levels, long term investors are looking for opportunities in fundamentally strong stocks. Many stocks are available at low prices due to current market meltdown. Although, the markets have recovered in recent times, some stocks are trading near their 52-week low.
JB Chemicals is a good stock to enter at current levels. The stock is trading near its 52-week low and is available with a P/E multiple of 6. The stock has touched a 52-week high and low of Rs 172 and 84 respectively. Sharmila Joshi of Fairwealth Securities has given a buy call for the stock with a target of Rs 150.
KEC International is another good stock available near its yearly low. The stock has touched yearly low in last trading session. At Rs 60, the stock is available at a low P/E of 10 in Power Transmission sector. Mutual funds holding the stock include Tata Infrastructure Fund and DSP BlackRock India Fund.
Unicon Investment has given a buy call for the stock with a target of Rs 104. Angel Broking has given a buy call with target price of Rs 107. BP Equities has given a bullish outlook for the stock with target of Rs 91. Technical expert Rajesh Jain has also given a positive outlook for the stock.