 "stock market, fall, divestment, company, firm")
Shares of Coal India, Oil and Natural Gas Corporation (ONGC), NTPC, Sun Pharmaceutical Industries, Tata Motors, Tata Motors DVR and Vedanta are among the seven stocks from the S&P BSE Sensex index that hit their respective 52-week low on the BSE in trade on Monday.
Deepak Fertilisers and Chemicals, FDC, Jindal Steel & Power (JSPL), Reliance Capital, Shankara Building Products, Rain Industries, Quess Corp, Supreme Industries, Tata Coffee, Tata Global Beverages, Tejas Networks and Vedanta were among 56 stocks from the S&P BSE 500 index that touched 52-week low amid a global sell-off. That apart, a rise in oil prices and a weak rupee also affected investor sentiment.
Amara Raja Batteries, Ashok Leyland, Balkrishna Industries, Force Motors and Bharat Forge from the automobile sector stocks continued under pressure after the auto companies delivered a subdued volume performance in November 2018 and concerns of muted outlook.
Metal shares too reeling under pressure with the S&P BSE Metal index and Nifty Metal index hitting fresh 52-week lows amid fears of global slowdown.
Sun Pharma tanks 33%
Among the individual stocks, Sun Pharma has dipped 3% to Rs 399, its lowest level since March 7, 2013. The stock of drug firm has fallen 33% from Rs 596, on back of negative news flow and disappointing September quarter results (Q2FY19). It fell 19% in past six trading days, even though the company made a clarification related to corporate governance and whistleblower issues. Brokerages are concerned about an increase in unsecured loans and advances to employees, domestic super-stockist distribution structure, as well as lack of clarity on a whistle-blower case.
Deepak Fertilisers and Chemicals, FDC, Jindal Steel & Power (JSPL), Reliance Capital, Shankara Building Products, Rain Industries, Quess Corp, Supreme Industries, Tata Coffee, Tata Global Beverages, Tejas Networks and Vedanta were among 56 stocks from the S&P BSE 500 index that touched 52-week low amid a global sell-off. That apart, a rise in oil prices and a weak rupee also affected investor sentiment.
Amara Raja Batteries, Ashok Leyland, Balkrishna Industries, Force Motors and Bharat Forge from the automobile sector stocks continued under pressure after the auto companies delivered a subdued volume performance in November 2018 and concerns of muted outlook.
Metal shares too reeling under pressure with the S&P BSE Metal index and Nifty Metal index hitting fresh 52-week lows amid fears of global slowdown.
Sun Pharma tanks 33%
Among the individual stocks, Sun Pharma has dipped 3% to Rs 399, its lowest level since March 7, 2013. The stock of drug firm has fallen 33% from Rs 596, on back of negative news flow and disappointing September quarter results (Q2FY19). It fell 19% in past six trading days, even though the company made a clarification related to corporate governance and whistleblower issues. Brokerages are concerned about an increase in unsecured loans and advances to employees, domestic super-stockist distribution structure, as well as lack of clarity on a whistle-blower case.
