 "Indiabulls Housing, Escorts among 57 stocks that hit 52-week lows on BSE")
A sharp sell-off in mid-and-small cap stocks in late morning deals saw 57 stocks from the S&P BSE 500 index hitting 52-week lows on the BSE in intra-day trade on Wednesday.
Indiabulls Housing Finance, Indiabulls Ventures and Indiabulls Integrated Services from Indiabulls Group, Reliance Capital, Reliance Infrastructure, Reliance Communications and Reliance Power from Reliance Anil Ambani Group, TVS Motor Company and TVS Srichakra from TVS group and TV18 Broadcast and Network18 Media from Reliance Mukesh Ambani Group hit their fresh 52-week lows on the BSE.
Of these 57 stocks, as many as 12 companies were from the financial sector, including banks, eight from pharmaceuticals, three from tyre and two each from agro chemicals, automobiles, chemicals, and fast moving consumer goods sector.
The S&P BSE 500 index dipped 4 per cent from its recent high on June 3, as compared to a 3 per cent decline in the benchmark S&P BSE Sensex.
Shares of YES Bank, Jammu & Kashmir Bank, Dewan Housing Finance Corporation (DHFL), Reliance Capital, Reliance Infrastructure and Jet Airways (India) have slipped between 32 per cent and 79 per cent.
The collateral selling in over leveraged lenders continues to dampen sentiment as select stocks fall with no bottom. The pessimism stems from no major announcement from the Central Bank and liquidity concerns regarding nonbanking finance companies (NBFCs) continue to hurt lending, IIFL Securities said in client note.
Among the individual stocks, Jet Airways (India) has slipped 28 per cent to Rs 29, also its new all-time low today. In the past week, the stock tanked 74 per cent from the level of Rs 110 after the BSE and NSE ordered to pull the scrip out from Futures and Options (F&O) trading from June 28. The exchanges have also decided to move the counter to ‘trade-to-trade’ segment, effective June 28 till further notice. Under this category, delivery of shares is compulsory.
Jain Irrigation Systems tanked 29 per cent to Rs 19.55 after rating agency India Ratings and Research (Ind-Ra) downgraded the company’s long-term issuer rating to ‘IND BBB’ from IND A-“ with negative outlook.
The rating agency said the downgrade reflects deterioration in the liquidity profile of JISL on account of a delay in the realisation of its receivables from its micro-irrigation systems (MIS) segment. The rating watch negative reflects the risk of delay in the company’s deleveraging plans or a further increase in its working capital requirement, resulting in further worsening of its liquidity position.
Indiabulls Housing Finance, Indiabulls Ventures and Indiabulls Integrated Services from Indiabulls Group, Reliance Capital, Reliance Infrastructure, Reliance Communications and Reliance Power from Reliance Anil Ambani Group, TVS Motor Company and TVS Srichakra from TVS group and TV18 Broadcast and Network18 Media from Reliance Mukesh Ambani Group hit their fresh 52-week lows on the BSE.
Of these 57 stocks, as many as 12 companies were from the financial sector, including banks, eight from pharmaceuticals, three from tyre and two each from agro chemicals, automobiles, chemicals, and fast moving consumer goods sector.
The S&P BSE 500 index dipped 4 per cent from its recent high on June 3, as compared to a 3 per cent decline in the benchmark S&P BSE Sensex.
Shares of YES Bank, Jammu & Kashmir Bank, Dewan Housing Finance Corporation (DHFL), Reliance Capital, Reliance Infrastructure and Jet Airways (India) have slipped between 32 per cent and 79 per cent.
The collateral selling in over leveraged lenders continues to dampen sentiment as select stocks fall with no bottom. The pessimism stems from no major announcement from the Central Bank and liquidity concerns regarding nonbanking finance companies (NBFCs) continue to hurt lending, IIFL Securities said in client note.
Among the individual stocks, Jet Airways (India) has slipped 28 per cent to Rs 29, also its new all-time low today. In the past week, the stock tanked 74 per cent from the level of Rs 110 after the BSE and NSE ordered to pull the scrip out from Futures and Options (F&O) trading from June 28. The exchanges have also decided to move the counter to ‘trade-to-trade’ segment, effective June 28 till further notice. Under this category, delivery of shares is compulsory.
Jain Irrigation Systems tanked 29 per cent to Rs 19.55 after rating agency India Ratings and Research (Ind-Ra) downgraded the company’s long-term issuer rating to ‘IND BBB’ from IND A-“ with negative outlook.
The rating agency said the downgrade reflects deterioration in the liquidity profile of JISL on account of a delay in the realisation of its receivables from its micro-irrigation systems (MIS) segment. The rating watch negative reflects the risk of delay in the company’s deleveraging plans or a further increase in its working capital requirement, resulting in further worsening of its liquidity position.
| COMPANY | LATEST | 52 WK LOW | PREV LOW | PREV DATE |
| ALEMBIC PHARMA | 472.00 | 469.30 | 478.00 | 18-Jun-19 |
| AMARA RAJA BATT. | 588.20 | 586.40 | 594.60 | 18-Jun-19 |
| BAYER CROP SCI. | 3319.40 | 3317.05 | 3325.00 | 18-Jun-19 |
| BHARAT FORGE | 439.60 | 430.55 | 437.20 | 18-Jun-19 |
| BOMBAY BURMAH | 979.60 | 943.00 | 1025.10 | 18-Jun-19 |
| CADILA HEALTH. | 236.05 | 231.00 | 232.90 | 18-Jun-19 |
| CEAT | 898.00 | 892.55 | 897.60 | 18-Jun-19 |
| CENTRAL BANK | 22.00 | 21.85 | 22.50 | 18-Jun-19 |
| COFFEE DAY ENTER | 218.25 | 215.40 | 219.70 | 18-Jun-19 |
| DEWAN HSG. FIN. | 63.10 | 60.00 | 62.55 | 18-Jun-19 |
| ECLERX SERVICES | 860.05 | 854.55 | 875.05 | 17-Jun-19 |
| EID PARRY | 165.00 | 165.00 | 166.00 | 18-Jun-19 |
| EMAMI | 321.60 | 317.00 | 317.15 | 18-Jun-19 |
| ERIS LIFESCIENCE | 480.00 | 480.00 | 484.20 | 18-Jun-19 |
| ESCORTS | 532.75 | 525.85 | 534.85 | 18-Jun-19 |
| GENERAL INSURANC | 207.55 | 206.30 | 206.35 | 12-Feb-19 |
| GLAXOSMI. PHARMA | 1240.25 | 1239.00 | 1244.00 | 17-Jun-19 |
| GLENMARK PHARMA. | 514.80 | 513.80 | 517.60 | 14-Jun-19 |
| HEG | 1332.10 | 1292.45 | 1444.05 | 18-Jun-19 |
| HIND.COPPER | 39.50 | 39.00 | 39.65 | 18-Jun-19 |
| I D F C | 34.35 | 33.60 | 33.85 | 14-May-19 |
| IFCI | 7.73 | 7.38 | 8.15 | 18-Jun-19 |
| INDIABULLS HOUS. | 564.00 | 500.20 | 576.35 | 11-Feb-19 |
| INDIABULLS INTEG | 191.60 | 191.60 | 195.60 | 13-Jun-19 |
| INDIABULLS VENT. | 256.00 | 208.75 | 238.55 | 14-May-19 |
| IRB INFRA.DEVL. | 94.45 | 89.60 | 102.90 | 18-Jun-19 |
| J & K BANK | 34.60 | 33.50 | 35.05 | 18-Dec-18 |
| JAIN IRRIGATION | 20.65 | 20.20 | 25.45 | 18-Jun-19 |
| JET AIRWAYS | 30.50 | 29.05 | 32.25 | 18-Jun-19 |
| JK TYRE & INDUST | 74.70 | 74.30 | 74.85 | 17-Jun-19 |
| JP ASSOCIATES | 2.67 | 2.67 | 2.89 | 18-Jun-19 |
| LAK. MACH. WORKS | 5238.80 | 5150.00 | 5164.60 | 17-Jun-19 |
| LAK. VILAS BANK | 56.25 | 54.35 | 54.80 | 25-Feb-19 |
| LUPIN | 704.55 | 702.15 | 704.80 | 17-Jun-19 |
| MANPASAND BEVER. | 28.00 | 28.00 | 29.45 | 18-Jun-19 |
| MMTC | 23.15 | 23.00 | 23.50 | 18-Jun-19 |
| MONSANTO INDIA | 2222.15 | 2190.75 | 2195.00 | 18-Jun-19 |
| NETWRK.18 MEDIA | 26.70 | 26.35 | 26.75 | 18-Jun-19 |
| NEW INDIA ASSURA | 153.20 | 152.00 | 152.00 | 13-Jun-19 |
| PHILLIPS CARBON | 114.35 | 108.80 | 121.30 | 18-Jun-19 |
| PIRAMAL ENTERP. | 1813.00 | 1775.00 | 1796.75 | 26-Oct-18 |
| REL. COMM. | 1.27 | 1.27 | 1.33 | 18-Jun-19 |
| RELIANCE CAPITAL | 56.50 | 52.55 | 61.75 | 18-Jun-19 |
| RELIANCE INFRA. | 40.75 | 37.30 | 44.00 | 18-Jun-19 |
| RELIANCE POWER | 4.17 | 3.95 | 4.36 | 18-Jun-19 |
| S H KELKAR & CO. | 136.90 | 109.15 | 132.55 | 18-Jun-19 |
| SHRI.CITY UNION. | 1375.05 | 1360.00 | 1401.00 | 14-May-19 |
| SPARC | 119.35 | 116.60 | 122.80 | 18-Jun-19 |
| SREI INFRA. FIN. | 18.10 | 17.70 | 19.15 | 06-Feb-19 |
| T N NEWSPRINT | 173.00 | 172.05 | 176.00 | 18-Jun-19 |
| T.V. TODAY NETW. | 250.65 | 250.00 | 256.10 | 29-May-19 |
| TATA COFFEE | 79.75 | 79.20 | 81.00 | 18-Jun-19 |
| TV18 BROADCAST | 24.70 | 24.20 | 25.15 | 17-Jun-19 |
| TVS MOTOR CO. | 440.65 | 440.35 | 448.50 | 26-Feb-19 |
| TVS SRICHAKRA | 1893.90 | 1868.25 | 1875.05 | 17-Jun-19 |
| WOCKHARDT | 355.95 | 348.90 | 349.15 | 13-May-19 |
| YES BANK | 102.75 | 102.00 | 107.10 | 18-Jun-19 |
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