Coal India, Vedanta, NTPC, SAIL hit 52-week lows

BASF, CARE Ratings, Hexaware Techno, ITD Cementation, Jindal Stainless, Shankara Building, Take Solutions and Timken India were among 18 stocks from the S&P BSE 500 index touched 52-week low today

Shares of Coal India, Vedanta, NTPC, Steel Authority of India (SAIL) and Finolex Cables have hit their respective 52-week lows on the BSE on Monday.

BASF, CARE Ratings, Hexaware Technologies, ITD Cementation, Jindal Stainless, Shankara Building Products, Take Solutions and Timken India were among 18 stocks from the S&P BSE 500 index are some of the other counters that hit their 52-week lows today.

Vedanta was down 3% at Rs 194, extending its 5% decline in past three trading days. According to a PTI report, the income tax (I-T) department has sold almost all of Cairn Energy’s attached shares to recover a part of the Rs 102.47 billion retrospective tax demand, regulatory filings showed.

“Cairn Energy held a 4.95% stake in mining major Vedanta, which the I-T department had attached after issuing a Rs 102.47 billion tax demand in 2014 on alleged capital gains the British firm made on a decade-old reorganisation of its India business. The department in May and June sold about 2% stake held by Cairn in Vedanta,” added the report. CLICK HERE TO READ FULL REPORT

SAIL, too, is down 3% at Rs 58, extending its 6% decline in past three days on the BSE. Most metal shares are under pressure with the S&P BSE Metal index trading down 2% today, as compared to 0.13% decline in the S&P BSE Sensex at 11:34 am.

Jindal Steel & Power, Hindustan Zinc and Hindustan Copper are also trading close to their respective 52-week lows. Analysts expect the domestic steel demand to grow at a lower-than-expected pace in the backdrop of curtailed infrastructure spending.

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE
BASF INDIA	1528.20	1515.00	1519.10	22-Nov-18
CARE RATINGS	983.30	981.00	982.00	22-Nov-18
COAL INDIA	251.80	251.50	256.00	22-Nov-18
FINOLEX CABLES	458.50	452.10	452.50	09-Oct-18
HEXAWARE TECH.	297.80	294.80	300.95	21-Nov-18
ITD CEM	103.70	101.25	102.00	22-Nov-18
JINDAL STAIN.	39.20	39.20	39.80	22-Nov-18
MAHINDRA LIFE.	388.50	386.40	389.70	21-Nov-18
NETWRK.18 MEDIA	38.70	38.50	38.60	22-Nov-18
NTPC	143.55	143.45	145.65	22-Nov-18
S A I L	58.75	58.40	60.25	22-Nov-18
SHANKARA BUILD.	801.60	795.00	816.50	22-Nov-18
SHARDA CROPCHEM	306.55	301.60	303.50	22-Nov-18
SOMANY CERAMICS	280.00	280.00	282.20	22-Nov-18
TAKE SOLUTIONS	132.30	129.35	131.15	22-Nov-18
THYROCARE TECH.	529.05	527.55	541.00	22-Nov-18
TIMKEN INDIA	504.00	503.50	506.50	22-Nov-18
VEDANTA	193.90	192.75	197.10	08-Oct-18