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Bharat Electronics, Vodafone Idea, Force Motors, IndiGo hit 52-week lows

BPCL, HPCL, MRPL, Bharat Infratel, Can Fin Homes, IRB Infrastructure, South Indian Bank and Timken India were among 22 stocks from S&P BSE 500 index that touched 52-week lows in intra-day trade today.

SI Reporter  |  Mumbai 

broker
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Reuters)

Shares of (BEL), Vodafone Idea, Force Motors, Castrol India, (IndiGo) and Tata Communications have hit their respective 52-week lows on the BSE as the benchmark indices are trading lower for the sixth trading days.

Besides BEL, total five stocks, which include Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), Shipping Corporation of India and Mangalore Refinery & Petrochemicals (MRPL) are state-owned companies hit 52-week lows on Wednesday.

Among the individual stocks, tanked 16% to Rs 91.50 on back of heavy volumes. A combined 93 million equity shares representing 3.8% of total equity of changed hands on the counter on the NSE and BSE.

slipped 4% to Rs 2222, extending its past two days 6% fall, after the company reported a 25% yoy decline (24% mom decline) in total volume in August 2018. The manufacturer of commercial vehicles and utility vehicles sold 2,083 vehicles in August 2018 against 2,779 vehicles in August 2017 and 2,724 vehicles in July 2018.

At 01:01 pm; the S&P BSE Sensex was trading 0.72% lower at 37,881, falling 2.6% or 1,015 points from 38,897 levels on August 28, 2018. The index hit an all-time high of 38,990 on August 29, in intra-day deal.

High crude prices, weak rupee, and the resultant widening current account deficit weighed on market sentiment.

Despite nearly 3% decline in past six trading days, the Sensex has rallied 11%, while Nifty 50 index gained 8.5% thus far in the calendar year 2018 (CY18).

“India has stood out in CY18 with significant outperformance v/s other emerging given the context of global concerns around trade war, geopolitical issues, rising crude oil prices, rising US rates and broad-based depreciation in emerging market currencies. That this has happened despite no meaningful change in India’s earnings cycle underscores the resilience of domestic-focused Indian in an otherwise turbulent globe. At the same time, it has resulted in valuation premium expansion v/s other The Nifty now trades at 21.4x FY19 EPS, not leaving much room for valuation expansion against the backdrop of rising bond yields,” Motilal Oswal Securities said in a client note.

The recently concluded earnings season has offered a glimmer of hope as far as asset quality woes of corporate banks are concerned. Commentaries from most corporate-focused banks have improved – they see moderation in fresh slippage generation and a reduction in provisioning costs going forward. This provides some succor to our FY19 and FY20 earnings estimates, the brokerage firm said.

Bharat Infratel, Can Fin Homes, IRB Infrastructure, South Indian Bank and Timken India were among 22 stocks from the S&P BSE 500 index touched 52-week lows in intra-day trade today.

COMPANY LATEST 52 WK LOW PREV LOW PREV DATE
B P C L 346.90 346.40 350.15 04-Sep-18
BHARAT ELECTRON 94.45 91.50 96.75 19-Jul-18
BHARTI INFRA. 272.60 272.30 274.85 21-Jun-18
CAN FIN HOMES 306.80 305.50 306.15 16-Aug-18
CASTROL INDIA 152.95 151.20 152.00 04-Sep-18
CENTURY PLY. 215.20 213.60 216.20 04-Sep-18
ECLERX SERVICES 1038.00 1029.90 1040.00 04-Sep-18
FORCE MOTORS 2239.00 2222.10 2297.00 04-Sep-18
H P C L 245.60 245.10 249.00 04-Sep-18
INTERGLOBE AVIAT 871.80 868.55 891.10 31-Jul-18
IRB INFRA.DEVL. 174.00 166.25 169.25 04-Sep-18
M R P L 73.70 73.10 73.50 16-Jul-18
MAHINDRA HOLIDAY 246.30 244.70 247.10 04-Sep-18
NAVKAR CORPORAT. 111.00 110.90 111.90 04-Sep-18
S C I 52.25 52.10 53.75 31-Aug-18
SOUTH IND.BANK 16.50 16.45 16.55 04-Sep-18
SUPREME PETROCH. 251.75 244.10 244.85 04-Sep-18
SUZLON ENERGY 6.71 6.66 6.85 04-Sep-18
TATA COMM 507.75 505.15 516.40 04-Sep-18
TIMKEN INDIA 629.00 627.50 629.20 04-Sep-18
VARDHMAN TEXTILE 1082.30 1060.00 1073.90 04-Sep-18
VODAFONE IDEA 47.30 46.85 48.40 18-Jul-18

First Published: Wed, September 05 2018. 13:22 IST
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