Shares of Aurobindo Pharmaceuticals, Bharat Heavy Electricals Limited (BHEL), Ambuja Cements, Grasim Industries, Zee Entertainment Enterprises, Glenmark Pharmaceuticals, Lupin and LIC Housing Finance were among the 34 stocks from the BSE500 index that hit their respective 52-week lows on the BSE on Monday in the intra-day trade.
Besides, IndusInd Bank, Bank of Baroda, Edelweiss Financial Services, Indiabulls Real Estate, Indiabulls Housing Finance, L&T Financial Holdings and Lakshmi Vilas Bank were other notable stocks from the index that slipped in the range of 1 to 13 per cent, to hit fresh 52-week lows today.
Among key sectoral indices, S&P BSE Healthcare index declined the most, down 2.3 per cent in the intra-day trade.
On the index, Aurobindo Pharma made the sharpest slide, down 15 per cent to Rs 484 on the BSE, and was the top loser among BSE500 index. The stock was trading at its lowest level since November 2014.
Furthermore, Glenmark Pharmaceuticals hit an almost eight-year low of Rs 277, down 12 per cent, after the drug firm said it has received a warning letter from the US health regulator for its Baddi facility in Himachal Pradesh. The stock was trading at its lowest level since December 26, 2011 on the BSE.
"The United States Food and Drug Administration (US FDA) had inspected the company’s Baddi facility between April 15 and April 20 and earlier classified the inspection as an 'Official Action Indicated (OAI)'. With regards to the same inspection, the US FDA has now issued a 'warning letter' to the Baddi facility," Glenmark said in a filing to the BSE.
Extending its three day slide, Edelweiss Financial Services fell 10 per cent to Rs 76.30, its lowest level since July 19, 2016, in the intra-day trade. The fall came after rating agency CRISIL on Friday, October 4, downgraded the financial services firm's rating on the long-term debt instruments by one notch, and revised its outlook to 'Stable'.
“The rating revision factors in the current challenging operating environment for non-banking financial companies (NBFCs), especially those with a wholesale lending book. Interest from debt investors in the sector has reduced in the recent past, leading to issues in funding access for non-banks, including the Edelweiss group,” CRISIL said in rating rationale. CLICK HERE TO READ FULL REPORT
|COMPANY||LATEST||52 WK LOW||PREV LOW||PREV DATE|
|B H E L||43.50||43.30||45.75||04-Oct-19|
|BANK OF BARODA||86.25||85.70||85.70||01-Oct-19|
|COFFEE DAY ENTER||43.00||41.00||41.25||04-Oct-19|
|LAK. MACH. WORKS||3325.45||3306.00||3390.40||03-Oct-19|
|LAK. VILAS BANK||28.40||28.40||29.85||04-Oct-19|
|LIC HOUSING FIN.||372.60||365.05||368.00||01-Oct-19|
|NAVA BHARAT VENT||78.75||76.45||76.65||04-Oct-19|
|UNITED BANK (I)||7.79||7.51||7.70||11-Sep-19|