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Shares of YES Bank, Maruti Suzuki India, Jet Airways, Godrej Properties, Finolex Industries, Edelweiss Financial Services and Eveready Industries are among 68 stocks from the Nifty 500 index that have hit their respective 52-week low as the benchmark indices trade 1% down tracking weakness in Asian markets.
Reliance Capital, Reliance Power and Reliance Infrastructure from Anil Ambani Group, Allahabad Bank, Central Bank of India, Karnataka Bank, Karur Vysya Bank, Ujjivan Financial Services, IFCI, Manappuram Finance and PNB Housing Finance from the financials too hit 52-week lows today.
At 12:57 pm: Nifty 500 index was trading 1.5% lower at 9,288 points, as compared to 1.1% decline in the Nifty 50 index. Since September 14, in past five trading days, Nifty 500 index slipped 5% against 4.3% fall in the benchmark index.
YES Bank hit a fresh 52-week low of Rs 216, down 5% in intra-day trade on the NSE. The stock tanked 29% on Friday, after the Reserve Bank of India (RBI) curtailed the term of lender's founding CEO Rana Kapoor and asked the bank to look for his replacement by January 2019.
The private sector lender said on Wednesday that the RBI had allowed Kapoor to continue only till January 31. “The board of directors of the bank is scheduled to meet on September 25 to decide on the course of action,” YES Bank said in a filing to the stock exchanges.
Maruti Suzuki India, too, hit a 52-week low of Rs 7,591, down 5.6% on the NSE, falling 23% in past two months. The country’s largest car maker had reported a decline in sales for the second consecutive month last month, as floods in Kerala adversely affected demand. Maruti’s overall August 18 volumes at 158,189 units were down 3% Y/Y with domestic PV volumes down 4% Y/Y.
Reliance Capital, Reliance Power and Reliance Infrastructure from Anil Ambani Group, Allahabad Bank, Central Bank of India, Karnataka Bank, Karur Vysya Bank, Ujjivan Financial Services, IFCI, Manappuram Finance and PNB Housing Finance from the financials too hit 52-week lows today.
At 12:57 pm: Nifty 500 index was trading 1.5% lower at 9,288 points, as compared to 1.1% decline in the Nifty 50 index. Since September 14, in past five trading days, Nifty 500 index slipped 5% against 4.3% fall in the benchmark index.
YES Bank hit a fresh 52-week low of Rs 216, down 5% in intra-day trade on the NSE. The stock tanked 29% on Friday, after the Reserve Bank of India (RBI) curtailed the term of lender's founding CEO Rana Kapoor and asked the bank to look for his replacement by January 2019.
The private sector lender said on Wednesday that the RBI had allowed Kapoor to continue only till January 31. “The board of directors of the bank is scheduled to meet on September 25 to decide on the course of action,” YES Bank said in a filing to the stock exchanges.
Maruti Suzuki India, too, hit a 52-week low of Rs 7,591, down 5.6% on the NSE, falling 23% in past two months. The country’s largest car maker had reported a decline in sales for the second consecutive month last month, as floods in Kerala adversely affected demand. Maruti’s overall August 18 volumes at 158,189 units were down 3% Y/Y with domestic PV volumes down 4% Y/Y.
