Biocon, Cadila Healthcare, Sun Pharma Advanced Research and Wockhardt from the pharmaceutical sector and Amara Raja Batteries, Bharat Forge, Motherson Sumi Systems and TVS Srichakra Tyres from auto-related sectors hit their 52-week lows today.
Beside these, Delta Corp, Eveready Industries, Graphite India, Hindustan Copper, IRB Infrastructure Developers, Jyothy Laboratories, Rallis India and Reliance Capital were among the 42 stocks from the S&P BSE 500 index that hit 52-week lows.
Among the sectoral indices, Nifty Auto index hit its 52-week low of 7,911, down 2 per cent, on the National Stock Exchange (NSE) as passenger vehicle sales drop 17 per cent in April, most in seven and half years. The weak sentiment, high insurance costs and a liquidity crunch dented car sales.
According to stock exchange provisional data, thus far in the month of May, foreign portfolio investors (FPIs) have sold net amount of Rs 4,000 crore from equities till Friday.
Among the individual stocks, Delta Corp was the top loser from the BSE500 index and tanked 15 per cent to Rs 182, extending its previous day’s 7 per cent decline.
According to a CNBC-TV18 report on Friday, Delta Corp was one of the two companies that evaded GST by camouflaging a mixed supply of services. The companies paid GST by artificially splitting values of services. GST was paid on net revenue of casino instead of Face Value of bet.
However, Delta Corp CFO said the company was in compliance with GST laws and did not evade any GST, the report said.
The fall comes after a slew of rating downgrades by various rating agencies. Brickwork Ratings (Brickwork) on May 4, 2019 revised the ratings of various existing debt instruments of RCap and continued with the 'credit watch' rating with negative implications.
|COMPANY||LATEST||52 WK LOW||PREV LOW||PREV DATE|
|AMARA RAJA BATT.||622.65||622.05||625.00||09-May-19|
|ASAHI INDIA GLAS||220.00||217.20||222.00||10-May-19|
|ASTER DM HEALTH.||136.05||134.70||140.00||10-May-19|
|I T D C||238.60||238.60||241.50||11-Feb-19|
|M & M||618.50||613.60||615.75||18-Feb-19|
|NAVA BHARAT VENT||91.05||89.35||89.50||09-May-19|
|S C I||31.95||31.75||32.15||09-May-19|
|T N NEWSPRINT||181.00||179.35||180.90||08-May-19|