 "stock market, fall, divestment, company, firm")
As many as 41 stocks, including HEG, Graphite India, MRF, IDBI Bank, Rallis India, Eveready Industries, Hero MotoCorp and Natco Pharma hit their respective 52-week lows on the BSE on Tuesday. All of them trade on S&P BSE Allcap index.
IFCI, Navkar Corporation, Reliance Communications, Reliance Power, Shipping Corporation of India, TVS Srichakra Tyres, DB Realty and VST Tillers Tractors were among notable shares that too hit their 52-week lows today.
Shares of Hero MotoCorp hit their 52-week low of Rs 2,510, down 4 per cent on the BSE in intra-day trade, after the company’s Ebitda (earnings before interest, tax, depreciation and amortisation) margin contracted 240 basis points (bps) at 13.6 per cent for the quarter ended March 31, 2019 (Q4FY19).
While the management expects near-term prospect of the domestic two-wheeler market to remain challenging, the festive season is expected to brighten the sentiment and revive growth in the second half of FY'20.
Eveready Industries was locked in lower circuit of 20 per cent at Rs 117, 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.
Tyre manufacturer, MRF, too hit 52-week low of Rs 53,582, down 1.5 per cent, falling 11 per cent in the past three weeks, ahead of Q4FY19 results on Thursday, May 2, 2019.
IFCI, Navkar Corporation, Reliance Communications, Reliance Power, Shipping Corporation of India, TVS Srichakra Tyres, DB Realty and VST Tillers Tractors were among notable shares that too hit their 52-week lows today.
Shares of Hero MotoCorp hit their 52-week low of Rs 2,510, down 4 per cent on the BSE in intra-day trade, after the company’s Ebitda (earnings before interest, tax, depreciation and amortisation) margin contracted 240 basis points (bps) at 13.6 per cent for the quarter ended March 31, 2019 (Q4FY19).
While the management expects near-term prospect of the domestic two-wheeler market to remain challenging, the festive season is expected to brighten the sentiment and revive growth in the second half of FY'20.
Eveready Industries was locked in lower circuit of 20 per cent at Rs 117, 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.
Tyre manufacturer, MRF, too hit 52-week low of Rs 53,582, down 1.5 per cent, falling 11 per cent in the past three weeks, ahead of Q4FY19 results on Thursday, May 2, 2019.
