3 companies to buy now

Given the market's recent plunge, a number of opportunities have now arisen for investors to take advantage of.

a woman

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is now trading in the red for the sixth consecutive day as investors around the world continue to ponder the impact that a reduced US Federal Reserve stimulus program would have on global equity markets.

Australia's benchmark index has lost a further 15 points and is now residing at 5128 points after having reached a high of 5457.3 points late in October. Whilst shares in the big four banks have certainly dropped in price following their strong rallies, a number of other opportunities have also arisen. Here are three companies that investors could consider adding to their portfolio at today's prices.

Although shares in telecommunications giant Telstra (ASX: TLS) have already delivered investors with outstanding returns over the last two years, the company continues to grow in strength as more and more customers convert from services provided by its competitors. While I believe the banks are still overvalued (despite their recent falls), Telstra would be an excellent addition to your portfolio, to act as a strong foundation, as well as a driver of future growth. Shares are currently trading at $5 each, down from their recent high of $5.23.

Whilst Telstra appears to have simply dropped in price along with the broader market, shares in Coca-Cola Amatil (ASX: CCL) continue their fall after a year of numerous setbacks – not least their most recent profit downgrade, which can largely be attributed to a heavy pricing war with its rival Schweppes and pressures from grocery giants Woolworths (ASX: WOW) and Wesfarmers (ASX: WES).

However, the future for the company looks bright. There is enormous room for growth in Indonesia and considering the strength of its numerous brands I believe the company will bounce back strongly in years to come. Shares are currently trading at a 52-week low of $11.64, which is a 25% discount compared to their price in March.

TPG Telecom (ASX: TPM) is another company that investors should be aware of. Given the telco's strong growth in profits and consistent performance, TPG could be an excellent way to gain exposure to Australia's telecommunications industry that boasts enormous growth potential. Shares are currently trading at $4.58.

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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

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