Low-Priced Stocks: These stocks made a fresh 52-week high on Wednesday

Major benchmark indices are showing mixed reactions about the impact of the new Coronavirus variant Omicron on the economic growth.

Indian equity indices traded in the green on Wednesday with the Sensex closing up by 619.9 points or 1.1% to end at 57,684.8 and the Nifty benchmark settling at 17,166.9, up 183.7 points or 1.1%.

The top 5 gainers of the Nifty 50 index are IndusInd Bank (up by 5.69 %), Axis Bank (up by 3.73%), JSW Steel (up by 4.45%), Adani Ports (up by 3.15%) and SBI (up by 3.04%). Sectoral indices Nifty Bank (PSU and Private Bank), Nifty Metal, Nifty Auto and Nifty IT are the highest gainers whereas Nifty Pharma and Nifty FMCG are trading low.

The public offer of Star Health and Allied Insurance Company received a mild response from investors with subscription at 15%, with bids totalling 67.99 lakh equity shares against issue size of 4.49 crores, on 1 December 2021 i.e. the second day of bidding. Retail investors bought 79% of their reserved portion and the employees’ segment saw 3% subscription. Non-institutional investors have bid for 2% of shares reserved for them, while qualified institutional buyers picked up 2.58 lakh shares as against their reserved portion of 2.38 crores. Rakesh Jhunjhunwala, Safecrop Investments India LLP and WestBridge AIF are the major promoters of the insurance company.

In other news, the price of petrol in Delhi will go down by Rs 8 as the state government has decided to reduce the VAT on petrol to 19.40% from 30%. Once the VAT cut comes into effect, the price of petrol will reduce to Rs 95 per litre from the current Rs 103 per litre in Delhi. The new rates will come into effect from December 2.

Major benchmark indices are showing mixed reactions about the impact of the new Coronavirus variant Omicron on the economic growth, which can be seen from the sell-offs and buying bouts that are occurring over the past few days. Most of the individual stocks are reflecting a bearish tone. A study has shown that about 44% of constituents of the key benchmark index NSE 500 are already trading 20% lower than their respective 52-week high.

Following is the list of low-priced stocks that made a fresh 52-week high on Wednesday.