Apollo Tyres, Jet Airways among 37 stocks in BSE500 index to hit 52-wk lows
GIC Housing, Sun TV Network, Vodafone Idea, BEML, Bharat Electronics, and Bharti Infratel were among 37 stocks from the S&P BSE 500 index hit 52-week lows.
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A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Reuters)
Shares of Apollo Tyres, GIC Housing Finance, Sun TV Network, Vodafone Idea, BEML, Bharat Electronics, IL&FS Transportation Networks (ITNL) and Bharti Infratel were among 37 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE on Wednesday.
Shares of all three listed state-owned oil marketing companies (OMCs) – Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation – along with aviation companies Jet Airways and InterGlobe Aviation (IndiGo) have hit 52-week lows due to rising crude oil prices.
Indiabulls Real Estate, Navkar Corporation, Prestige Estates and Shankara Building Products from the real estate and related sector too hit 52-week lows today.
Of these 37 stocks, ITNL, BEML, Jaiprakash Associates, Jet Airways, Bharat Electronics, and HPCL have seen their market price tanked more than 50% in past one year.
ITNL has slipped 5% to Rs 24.90, extending its 13% decline in the past two days on the BSE. Rating agency ICRA Sunday downgraded loan and debentures of infrastructure financing firm IL&FS to 'default risk' citing liquidity pressure on the group on the back of sizeable repayment obligations. The rating of IL&FS, which has reportedly defaulted on payment, is kept underrating watch with developing implications. IL&FS is the promoter of ITNL.
Apollo Tyres hit an intra-day low of Rs 226, falling 23% since August, after the company announced June 2018 quarter results. The company also proposed an investment plan of about Rs 38 billion towards a greenfield plant in Andhra Pradesh to make truck and bus radials (TBRs) and passenger car (PC) tyres.
“The company raised India capex guidance over FY19-FY21E to Rs 55 billion and consolidated capex guidance to Rs 65 billion. Increasing capex intensity along with rising raw material prices is a worry despite strong growth expectations, while a likely improvement in Europe profitability due to the Hungary plant ramp-up provides comfort,” analysts at Equirus Securities said in result update.
Shares of all three listed state-owned oil marketing companies (OMCs) – Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation – along with aviation companies Jet Airways and InterGlobe Aviation (IndiGo) have hit 52-week lows due to rising crude oil prices.
Indiabulls Real Estate, Navkar Corporation, Prestige Estates and Shankara Building Products from the real estate and related sector too hit 52-week lows today.
Of these 37 stocks, ITNL, BEML, Jaiprakash Associates, Jet Airways, Bharat Electronics, and HPCL have seen their market price tanked more than 50% in past one year.
ITNL has slipped 5% to Rs 24.90, extending its 13% decline in the past two days on the BSE. Rating agency ICRA Sunday downgraded loan and debentures of infrastructure financing firm IL&FS to 'default risk' citing liquidity pressure on the group on the back of sizeable repayment obligations. The rating of IL&FS, which has reportedly defaulted on payment, is kept underrating watch with developing implications. IL&FS is the promoter of ITNL.
Apollo Tyres hit an intra-day low of Rs 226, falling 23% since August, after the company announced June 2018 quarter results. The company also proposed an investment plan of about Rs 38 billion towards a greenfield plant in Andhra Pradesh to make truck and bus radials (TBRs) and passenger car (PC) tyres.
“The company raised India capex guidance over FY19-FY21E to Rs 55 billion and consolidated capex guidance to Rs 65 billion. Increasing capex intensity along with rising raw material prices is a worry despite strong growth expectations, while a likely improvement in Europe profitability due to the Hungary plant ramp-up provides comfort,” analysts at Equirus Securities said in result update.
| COMPANY | LATEST | 52 WK LOW | PREV LOW | PREV DATE |
| APOLLO TYRES | 228.05 | 225.90 | 228.30 | 09-Nov-17 |
| B P C L | 325.90 | 325.60 | 337.00 | 11-Sep-18 |
| BALMER LAWRIE | 202.20 | 200.95 | 202.85 | 23-May-18 |
| BEML LTD | 736.00 | 731.20 | 737.45 | 23-Jul-18 |
| BHARAT ELECTRON | 85.75 | 85.30 | 87.65 | 11-Sep-18 |
| BHARTI INFRA. | 264.60 | 264.60 | 266.00 | 06-Sep-18 |
| CAN FIN HOMES | 301.45 | 301.45 | 305.50 | 05-Sep-18 |
| CASTROL INDIA | 151.10 | 150.00 | 150.00 | 11-Sep-18 |
| CENTRUM CAPITAL | 47.65 | 47.50 | 48.00 | 11-Sep-18 |
| COCHIN SHIPYARD | 413.65 | 413.00 | 416.00 | 07-Sep-18 |
| D B CORP | 219.90 | 219.50 | 222.95 | 11-Sep-18 |
| GIC HOUSING FIN | 301.40 | 299.00 | 305.00 | 11-Sep-18 |
| GREENPLY INDS. | 187.25 | 187.25 | 191.00 | 11-Sep-18 |
| GUJARAT GAS | 673.60 | 660.55 | 693.50 | 11-Sep-18 |
| H P C L | 235.15 | 233.50 | 243.30 | 11-Sep-18 |
| I O C L | 145.70 | 145.70 | 150.15 | 28-Jun-18 |
| IL&FS TRANSPORT | 24.50 | 24.50 | 25.30 | 10-Sep-18 |
| INDBULL.REALEST. | 136.15 | 135.10 | 139.25 | 20-Jul-18 |
| INTERGLOBE AVIAT | 873.60 | 865.35 | 868.55 | 05-Sep-18 |
| JET AIRWAYS | 259.00 | 258.55 | 261.60 | 10-Aug-18 |
| JOHNSON CON. HIT | 1750.00 | 1725.20 | 1759.70 | 11-Sep-18 |
| JP ASSOCIATES | 9.44 | 9.32 | 10.05 | 11-Sep-18 |
| M R P L | 72.40 | 72.00 | 73.10 | 05-Sep-18 |
| MAHINDRA HOLIDAY | 245.10 | 243.10 | 244.00 | 07-Sep-18 |
| MANAPPURAM FIN. | 84.40 | 83.65 | 87.50 | 11-Sep-18 |
| NAVKAR CORPORAT. | 104.30 | 104.10 | 104.90 | 11-Sep-18 |
| OIL INDIA | 200.40 | 199.90 | 200.00 | 28-Jun-18 |
| PRESTIGE ESTATES | 218.65 | 216.20 | 219.00 | 11-Sep-18 |
| S C I | 50.55 | 49.70 | 51.90 | 11-Sep-18 |
| SHANKARA BUILD. | 1180.00 | 1155.55 | 1211.00 | 11-Sep-18 |
| SOMANY CERAMICS | 422.00 | 414.15 | 424.00 | 23-Jul-18 |
| SOUTH IND.BANK | 15.80 | 15.70 | 16.00 | 11-Sep-18 |
| SUN TV NETWORK | 663.15 | 655.70 | 657.25 | 11-Sep-18 |
| SYMPHONY | 1002.00 | 995.00 | 1000.00 | 11-Sep-18 |
| SYNDICATE BANK | 36.00 | 35.90 | 36.50 | 11-Sep-18 |
| VARDHMAN TEXTILE | 1029.90 | 1009.00 | 1040.75 | 10-Sep-18 |
| VODAFONE IDEA | 45.25 | 45.00 | 45.65 | 07-Sep-18 |