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Companies across spectrum including Bosch, Reliance Infrastructure, Amara Raja Batteries, Godrej Consumer Products and Vodafone Idea were hard hit by the global sell-off as these scrips, along with Cadila Healthcare, IDBI Bank, Jubilant Life Sciences and Shriram City Union Finance were among the S&P BSE 100 index counters hitting their respective 52-week lows on the BSE on Wednesday.
Besides these, Jyothy Laboratories, Apollo Tyres, Rallis India, Shipping Corporation of India, Network18 Media, Eveready Industries, Asahi India Glass, TV18 Broadcast, TV Today Network and TVS Srichakra Tyres were among 26 stocks from the S&P BSE 500 index touching 52-week lows on Wednesday.
At 02:59 pm, the benchmark S&P BSE Sensex was trading 1 per cent lower at 37,859 points, and has slipped 3 per cent in the past three trading days. The fall has been triggered on an escalation in trade war between the United States (US) and China.
Since Friday, May 3, foreign investors have sold shares worth nearly Rs 2,000 crore till Tuesday, in anticipation of weak global cues and uncertainty before the 2019 Lok Sabha election outcome, due on May 23.
Eveready, Vodafone Idea among key losers
Among individual stocks, Eveready Industries touched its lower circuit of 10 per cent at Rs 90.65 and hit the lowest level since September 26, 2014 on the BSE. In past six trading days, the stock has tanked 38 per cent from level of Rs 146 on April 26, after rating agency India Ratings and Research (Ind-Ra) downgraded the company's long-term credit rating with negative outlook.
“The downgrade reflects the company's continued high net leverage and weakened liquidity amid continuous financial support extended to group companies and delayed asset monetisation. The negative rating watch reflects delays in deleveraging which could further impact the company’s credit metrics and liquidity,” Ind-Ra said on April 25, in a statement.
Shares of Vodafone Idea hit a new low of Rs 13.65, slipping 12 per cent on the BSE in intra-day trade. About 20,000 million new shares of Vodafone Idea started trading at National Stock Exchange (NSE) and the BSE with effect from Wednesday.
Simialrly, Cadila Healthcare touched a fresh 52-week low of Rs 285, down 5 per cent, falling 12 per cent in past five trading days. The drug firm said on Friday, May 3, 2019 that the US Food and Drug Administration (USFDA) issued 14 observations after inspecting its manufacturing facility at Moraiya in Ahmedabad, Cadila Healthcare said in a regulatory filing.
The USFDA inspected the plant from April 22, 2019 to May 3, 2019. The inspection concluded with 14 observations. There were no repeat observations or data integrity related observations, the company said in a regulatory filing.
| COMPANY | LATEST | 52 WK LOW | PREV LOW | PREV DATE |
| AMARA RAJA BATT. | 634.00 | 633.85 | 641.50 | 07-May-19 |
| APOLLO TYRES | 192.45 | 191.10 | 192.10 | 23-Oct-18 |
| ASAHI INDIA GLAS | 225.00 | 225.00 | 230.00 | 07-May-19 |
| ASTER DM HEALTH. | 141.00 | 140.00 | 141.00 | 06-May-19 |
| BOSCH | 17244.65 | 17070.35 | 17169.70 | 03-Jul-18 |
| CADILA HEALTH. | 287.05 | 285.30 | 291.90 | 06-May-19 |
| EVEREADY INDS. | 90.65 | 90.65 | 99.50 | 07-May-19 |
| GODREJ CONSUMER | 638.00 | 627.55 | 627.60 | 03-May-19 |
| IDBI BANK | 37.10 | 36.60 | 37.05 | 07-May-19 |
| IFCI | 9.41 | 9.20 | 9.30 | 07-May-19 |
| INDIABULLS VENT. | 259.80 | 256.00 | 256.90 | 19-Feb-19 |
| JUBILANT LIFE | 618.45 | 617.15 | 617.45 | 19-Oct-18 |
| JYOTHY LAB. | 164.45 | 164.00 | 168.50 | 07-May-19 |
| NAVA BHARAT VENT | 94.10 | 94.10 | 94.90 | 14-Feb-19 |
| NAVKAR CORPORAT. | 29.70 | 29.60 | 30.55 | 07-May-19 |
| NETWRK.18 MEDIA | 30.95 | 30.90 | 31.00 | 19-Feb-19 |
| RALLIS INDIA | 145.80 | 143.55 | 145.00 | 06-May-19 |
| RELIANCE INFRA. | 99.45 | 96.75 | 99.10 | 08-Feb-19 |
| S C I | 32.60 | 32.55 | 33.10 | 07-May-19 |
| SHRI.CITY UNION. | 1521.35 | 1477.05 | 1480.05 | 23-Oct-18 |
| T N NEWSPRINT | 182.35 | 180.90 | 184.95 | 26-Feb-19 |
| T.V. TODAY NETW. | 283.50 | 276.05 | 288.70 | 07-May-19 |
| THYROCARE TECH. | 467.95 | 465.15 | 470.55 | 02-May-19 |
| TV18 BROADCAST | 29.95 | 29.10 | 29.90 | 07-May-19 |
| TVS SRICHAKRA | 2086.75 | 2071.10 | 2100.00 | 07-May-19 |
| VODAFONE IDEA | 14.35 | 13.65 | 14.95 | 04-Apr-19 |
