NCC, Power Finance and 3 other Nifty 500 stocks trading at the RSI less than 30; Do you own any?

Synopsis: The stocks listed, Power Finance Corporation Ltd, Cohance Lifesciences Ltd, Bajaj Housing Finance Ltd, SKF India Ltd, and NCC Ltd, are currently in the oversold zone with RSI values below 30, suggesting potential for price rebounds.

The Relative Strength Index (RSI) is a technical indicator used in financial markets to measure the speed and change of price movements. It ranges from 0 to 100 and is typically used to assess whether a stock or asset is overbought or oversold.

An RSI value above 70 indicates that the asset might be overbought, suggesting it could be overvalued and might experience a price correction. Conversely, an RSI below 30 indicates that the asset might be oversold, potentially signalling that it is undervalued and could experience a price rebound.

Power Finance Corporation Ltd

Power Finance Corporation Ltd. (PFC) is India’s largest government-owned financial institution focused on the power and allied infrastructure sectors, operating as a Maharatna CPSE under the Ministry of Power. It’s a leading NBFC providing funding for power generation, transmission, and distribution, also diversifying into smart cities, logistics, and EV infrastructure, acting as a crucial financial partner for India’s energy development. 

With a market capitalization of Rs. 1,10,883.42 crores on Tuesday, the stock closed at Rs. 336.00, with an RSI of 19.36, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Cohance Lifesciences Ltd

Cohance Lifesciences Ltd (formerly Suven Pharmaceuticals) is a major Indian Contract Development & Manufacturing Organization (CDMO) focused on pharma/life sciences, providing end-to-end services from R&D (Process R&D, Custom Synthesis) to large-scale manufacturing of APIs, intermediates, and formulations.

With a market capitalization of Rs. 20,545.77 crores on Tuesday, the stock closed at Rs. 537.05, with an RSI of 26.93, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Bajaj Housing Finance Ltd

Bajaj Housing Finance Ltd (BHFL) is a leading, RBI-regulated Upper-Layer NBFC and subsidiary of Bajaj Finance, offering home loans, loans against property, developer financing, and more for individuals and corporates in India, known for its strong AAA/Stable ratings, diverse product range, digital focus, and significant presence in the mortgage market. 

With a market capitalization of Rs. 79,532.13 crores on Tuesday, the stock closed at Rs. 95.45, with an RSI of 24.77, indicating that it is in the oversold zone, offering the potential for an upside bounce.

SKF India Ltd

SKF India Ltd. is the Indian arm of Swedish giant AB SKF, a global leader in bearings, seals, and lubrication systems, providing engineering solutions for automotive & industrial sectors, known for reducing friction, improving efficiency, and enhancing equipment life through innovations in bearings, seals, mechatronics, lubrication, and services, operating multiple manufacturing plants (Pune, Bangalore, Haridwar).

With a market capitalization of Rs. 8,902.79 crores on Tuesday, the stock closed at Rs. 1800.80, with an RSI of 21.44, indicating that it is in the oversold zone, offering the potential for an upside bounce.

NCC Ltd

NCC Limited is a major Indian infrastructure conglomerate focused on construction across diverse sectors like buildings, transportation (roads, railways), water & environment (supply, drainage), irrigation, electrical (T&D), and mining, known for large-scale projects (AIIMS, IITs) and expanding into smart meters, operating with a pan-India presence and growing international footprint.

With a market capitalization of Rs. 9,904.28 crores on Tuesday, the stock closed at Rs. 157.75, with an RSI of 18.63, indicating that it is in the oversold zone, offering the potential for an upside bounce.

Written by Sridhar J 

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