ONGC, Coal India, NTPC among 22 stocks from BSE500 index hit 52-week lows

Avanti Feeds, Deepak Fertilisers, Jindal Steel & Power, NMDC, SAIL, Suzlon Energy and Rain Industries too hit 52-week lows today.

Shares of Oil and Natural Gas Corporation (ONGC), Coal India, NTPC and YES Bank from the S&P BSE Sensex hit their respective 52-week lows in an otherwise firm market on Thursday. At 11:55 am; the benchmark index was up 1% at 36,073 points.

In past one month, these four stocks have underperformed the market by falling between 10% and 17%, as compared to a 6% rise in the Sensex.

YES Bank, largest loser among the index, slipped 9% to Rs 147 on the BSE in intra-day trade today, its lowest level since March 4, 2016. The stock of private sector lender tanked 22% in the past three days after Moody’s downgraded the bank’s instruments and changed its outlook from stable to negative on Tuesday. Rating agency Icra, too, on Wednesday downgraded the bank’s rating.

Shares of YES Bank have plunged 63% from their all-time high level of Rs 404 per share touched on August 8, 2018, on the BSE in intra-day trade. Investors in Yes Bank have lost Rs 568 billion during the period. The market capitalisation of the bank declined from Rs 908 billion to Rs 340 billion today.

Coal India was down 2.4% at Rs 242, falling 16% in past one month. The state-owned company reported adjusted Ebitda (earnings before interest, tax, depreciation and amortization) of Rs 47 billion against brokerage estimate of Rs 62 billion in September quarter (Q2FY19).

“The miss can be attributed to higher provisions, revenue miss due to lower-than-estimated e-auction volume and fuel supply agreement (FSA) realization and higher cost in stock adjustment,” the brokerage firm said in result update.

Coal India is supplying higher share of production on a priority basis to the less remunerative power sector, which is the reason behind the miss in FSA realization. Demand for domestic coal increases when imports are expensive, as is the case now. However, Coal India is benefitting from higher e-auction prices and operating leverage, it added with maintain ‘buy’ rating on the stock.

“Coal India’s production growth has been weak, while the Auctioned and allocated coal blocks have not been able to ramp up production. Inventories at power plants remain low, and the focus seems to be supply to power plants. We expect elevated coal costs for the aluminum companies like Hindalco and Vedanta though the benefit to Coal India could be limited as E auction volumes decline,” analysts at JP Morgan said in a report dated November 12, 2018.

Besides these four Sensex stocks, total 22 scrips from the S&P BSE 500 index hitting their 52-week lows today. The list includes Avanti Feeds, Deepak Fertilisers & Chemical, Jindal Steel & Power, NMDC, Steel Authority of India (SAIL), Suzlon Energy and Rain Industries.

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE
AVANTI FEEDS	345.00	343.00	350.00	28-Sep-18
BLISS GVS PHARMA	160.55	159.50	160.50	21-Nov-18
CARE RATINGS	955.75	951.00	954.00	28-Nov-18
COAL INDIA	244.35	241.50	247.35	28-Nov-18
DEEPAK FERT.	162.90	159.00	161.00	28-Nov-18
HSIL	215.95	211.95	214.10	28-Nov-18
IL&FS TRANSPORT	16.45	16.45	17.25	28-Nov-18
JINDAL STAIN.	38.30	37.60	38.00	28-Nov-18
JINDAL STEEL	152.55	150.90	151.05	27-Nov-18
KRBL	293.00	288.00	296.40	28-Nov-18
NETWRK.18 MEDIA	38.20	38.00	38.00	28-Nov-18
NMDC	93.50	92.90	93.20	28-Nov-18
NTPC	144.05	140.85	141.80	26-Nov-18
O N G C	139.90	138.00	142.20	28-Nov-18
RAIN INDUSTRIES	135.70	131.70	133.40	28-Nov-18
S A I L	55.20	54.60	55.20	28-Nov-18
SHARDA CROPCHEM	295.00	292.00	295.30	28-Nov-18
SPARC	252.30	250.50	256.00	28-Nov-18
SUPREME PETROCH.	208.85	199.00	199.00	20-Nov-18
SUZLON ENERGY	5.22	4.99	5.05	01-Oct-18
TIME TECHNOPLAST	110.05	108.50	108.50	28-Nov-18
YES BANK	162.20	147.00	160.15	28-Nov-18