As many as 42 stocks from the S&P BSE500 index are trading close to their respective 52-week lows on the Bombay Stock Exchange (BSE). These are the stocks that are both less than 10 rupees and 10 per cent away from their respective previous year low levels (as per the closing prices on September 17).
A chunk of the list belongs to bank stocks. Seeking to spur lending needed to revive economic growth, the government last month announced a merger of smaller banks to create four new lenders that would hold more than half of the Indian banking industry’s assets.