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Shares of Coal India, Vedanta, NTPC, Steel Authority of India (SAIL) and Finolex Cables have hit their respective 52-week lows on the BSE on Monday.
BASF, CARE Ratings, Hexaware Technologies, ITD Cementation, Jindal Stainless, Shankara Building Products, Take Solutions and Timken India were among 18 stocks from the S&P BSE 500 index are some of the other counters that hit their 52-week lows today.
Vedanta was down 3% at Rs 194, extending its 5% decline in past three trading days. According to a PTI report, the income tax (I-T) department has sold almost all of Cairn Energy’s attached shares to recover a part of the Rs 102.47 billion retrospective tax demand, regulatory filings showed.
“Cairn Energy held a 4.95% stake in mining major Vedanta, which the I-T department had attached after issuing a Rs 102.47 billion tax demand in 2014 on alleged capital gains the British firm made on a decade-old reorganisation of its India business. The department in May and June sold about 2% stake held by Cairn in Vedanta,” added the report. CLICK HERE TO READ FULL REPORT
SAIL, too, is down 3% at Rs 58, extending its 6% decline in past three days on the BSE. Most metal shares are under pressure with the S&P BSE Metal index trading down 2% today, as compared to 0.13% decline in the S&P BSE Sensex at 11:34 am.
Jindal Steel & Power, Hindustan Zinc and Hindustan Copper are also trading close to their respective 52-week lows. Analysts expect the domestic steel demand to grow at a lower-than-expected pace in the backdrop of curtailed infrastructure spending.
BASF, CARE Ratings, Hexaware Technologies, ITD Cementation, Jindal Stainless, Shankara Building Products, Take Solutions and Timken India were among 18 stocks from the S&P BSE 500 index are some of the other counters that hit their 52-week lows today.
Vedanta was down 3% at Rs 194, extending its 5% decline in past three trading days. According to a PTI report, the income tax (I-T) department has sold almost all of Cairn Energy’s attached shares to recover a part of the Rs 102.47 billion retrospective tax demand, regulatory filings showed.
“Cairn Energy held a 4.95% stake in mining major Vedanta, which the I-T department had attached after issuing a Rs 102.47 billion tax demand in 2014 on alleged capital gains the British firm made on a decade-old reorganisation of its India business. The department in May and June sold about 2% stake held by Cairn in Vedanta,” added the report. CLICK HERE TO READ FULL REPORT
SAIL, too, is down 3% at Rs 58, extending its 6% decline in past three days on the BSE. Most metal shares are under pressure with the S&P BSE Metal index trading down 2% today, as compared to 0.13% decline in the S&P BSE Sensex at 11:34 am.
Jindal Steel & Power, Hindustan Zinc and Hindustan Copper are also trading close to their respective 52-week lows. Analysts expect the domestic steel demand to grow at a lower-than-expected pace in the backdrop of curtailed infrastructure spending.
| COMPANY | LATEST | 52 WK LOW | PREV LOW | PREV DATE |
| BASF INDIA | 1528.20 | 1515.00 | 1519.10 | 22-Nov-18 |
| CARE RATINGS | 983.30 | 981.00 | 982.00 | 22-Nov-18 |
| COAL INDIA | 251.80 | 251.50 | 256.00 | 22-Nov-18 |
| FINOLEX CABLES | 458.50 | 452.10 | 452.50 | 09-Oct-18 |
| HEXAWARE TECH. | 297.80 | 294.80 | 300.95 | 21-Nov-18 |
| ITD CEM | 103.70 | 101.25 | 102.00 | 22-Nov-18 |
| JINDAL STAIN. | 39.20 | 39.20 | 39.80 | 22-Nov-18 |
| MAHINDRA LIFE. | 388.50 | 386.40 | 389.70 | 21-Nov-18 |
| NETWRK.18 MEDIA | 38.70 | 38.50 | 38.60 | 22-Nov-18 |
| NTPC | 143.55 | 143.45 | 145.65 | 22-Nov-18 |
| S A I L | 58.75 | 58.40 | 60.25 | 22-Nov-18 |
| SHANKARA BUILD. | 801.60 | 795.00 | 816.50 | 22-Nov-18 |
| SHARDA CROPCHEM | 306.55 | 301.60 | 303.50 | 22-Nov-18 |
| SOMANY CERAMICS | 280.00 | 280.00 | 282.20 | 22-Nov-18 |
| TAKE SOLUTIONS | 132.30 | 129.35 | 131.15 | 22-Nov-18 |
| THYROCARE TECH. | 529.05 | 527.55 | 541.00 | 22-Nov-18 |
| TIMKEN INDIA | 504.00 | 503.50 | 506.50 | 22-Nov-18 |
| VEDANTA | 193.90 | 192.75 | 197.10 | 08-Oct-18 |
