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Sun TV Network, Ashok Leyland, Nilkamal, SPARC hit 52-week lows

Force Motors, Deepak Fertilisers, Sun Pharma and Jamana Auto were among eight stocks from the S&P BSE 500 index hit their respective 52-week lows on the BSE on Friday.

SI Reporter  |  Mumbai 

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Shares of Sun TV Network, Ashok Leyland, Force Motors, Deepak Fertilisers and Chemicals, Sun Pharmaceutical Industries, Sun Pharma Advanced Research (SPARC), Nilkamal and Jamana Auto Industries were among eight stocks from the S&P BSE 500 index hit their respective 52-week lows on the BSE on Friday.

Shares of hit a two-year low of Rs 514, down 9 per cent on the BSE, on back of heavy volumes. The stock of broadcasting & cable TV operator was trading at its lowest level since January 3, 2017.

In past one year, the stock has underperformed the market by falling 50 per cent, on the back of concerns over the shift in viewership towards Over-the-Top (OTT) and perceived under-investments in OTT and rising competition in core In comparison, the S&P BSE Sensex was up 2.8 per cent during the same period.

had posted weaker-than-expected operating results with subdued advertisement growth in September quarter. “Concerns over rising competitive intensity have heightened, with aggressive content strategy by Star, Colors and Zee in the Tamil genre notwithstanding Sun’s intent to counter the same. We also remain concerned about the company’s strategy of steep spending in movie production and its intent to continue the same ahead,” analysts at ICICI Securities said in Q2FY19 result update.

Shares of pharma bellwether Sun Pharma crashed to a six-year low of Rs 375.40 in early trade today after a report suggested new whistleblower documents had been sent to regulator Securities and Exchange Board of India (Sebi).

According to a report by financial website Moneylife, huge transactions allegedly took place between Aditya Medisales and private companies of Sun Pharma's promoters between 2014 and 2017.

down 4 per cent to Rs 134, hitting an over two year low on the BSE in intra-day trade. Since November 13, 2018, the stock slipped 36 per cent after it reported a 56 per cent drop in net profit at Rs 190 million in Q2FY19. The company said profitability was adversely impacted due to rupee depreciation and a significant rise in raw material prices.

Shares of automobile companies and were continued under pressure after reported a weak set of sales numbers for the month of December.

ASHOK LEYLAND 92.30 92.05 92.30 08-Jan-19
DEEPAK FERT. 135.45 133.80 134.55 11-Dec-18
FORCE MOTORS 1565.35 1560.00 1580.00 17-Jan-19
JAMNA AUTO INDS. 60.75 60.35 60.75 14-Jan-19
NILKAMAL LTD 1371.50 1347.00 1359.80 17-Jan-19
SPARC 147.00 146.80 171.30 17-Jan-19
SUN PHARMA.INDS. 377.25 375.40 391.10 11-Dec-18
SUN TV NETWORK 521.95 513.75 554.05 11-Dec-18

First Published: Fri, January 18 2019. 13:50 IST