Market Movers: These penalized stocks of May witnessed positive action at lower levels

Metropolis Healthcare, Ashoka Buildcon and Indiabulls Housing Finance are among the top gainers on the A Group and are still trading at a huge discount to their 52-week highs.

The last trading day of the week ended lower despite a positive start. IT and Energy stocks were among the few sectors that ended in green while the power sector was the biggest loser. 

At the closing bell on June 3, the Sensex closed almost flat with a loss of 0.1 per cent or 49 points at 55,769.23 while the Nifty50 lost 0.3 per cent or 43.7 points at 16,584.30. 

 Metropolis Healthcare, Ashoka Buildcon and Indiabulls Housing Finance witnessed positive action in today’s session.  

Metropolis Healthcare witnessed a gain of 4.85 per cent in today’s session after a long spell of selling pressure. The leading diagnostic company had posted disappointing Q4 results, and the stock price made a nosedive in the month of May. It logged a fresh 52-week low of Rs 1510 on May 26 while shedding 32.33 per cent of its share price. The shares of Metropolis logged intraday high and low of Rs 1673.25 and 1592.80, respectively. At today’s close of Rs 1651, the stock is still 54 per cent below its 52-week high of Rs Rs 3579. 

Ashoka Buildcon witnessed a rally of 4.58 per cent in today’s session and closed at Rs 85.55. The shares of leading highway developer logged its 52-week low on May 25 at 69 losing 20.77 per cent in a month. The company posted robust quarterly numbers on May 28 on the back of which the stock price rallied 13 per cent in the next trading session. In today’s session, the shares of Ashoka Buildcon logged intraday high and low of Rs 87.90 and Rs 84, respectively. At today’s close, the stock is at a 31.6 per cent discount to its 52-week high of Rs 125. 

Indiabulls Housing Finance is another penalized stock of May 2022 witnessed a rally of 4.47 per cent in today’s session and closed at Rs 122.60. On May 12, the stock logged its 52-week low of Rs 106.15 witnessing a month’s loss of 28.6 per cent. The shares of IHFL hit intraday high and low at Rs 129.05 and Rs 3118.70, respectively. At today’s close, the stock is at a huge 61 per cent discount to its 52-week high of Rs 313.50.