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Apollo Tyres, Jet Airways among 37 stocks in BSE500 index to hit 52-wk lows

SI Reporter/Mumbai 12 Sep 18 | 12:29 PM

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Reuters)

Shares of Apollo Tyres, GIC Housing Finance, Sun TV Network, Vodafone Idea, BEML, Bharat Electronics, IL&FS Transportation Networks (ITNL) and Bharti Infratel were among 37 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE on Wednesday.

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Shares of all three listed state-owned oil marketing companies (OMCs) – Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation – along with aviation companies Jet Airways and InterGlobe Aviation (IndiGo) have hit 52-week lows due to rising crude oil prices.

Indiabulls Real Estate, Navkar Corporation, Prestige Estates and Shankara Building Products from the real estate and related sector too hit 52-week lows today.

Of these 37 stocks, ITNL, BEML, Jaiprakash Associates, Jet Airways, Bharat Electronics, and HPCL have seen their market price tanked more than 50% in past one year.

ITNL has slipped 5% to Rs 24.90, extending its 13% decline in the past two days on the BSE. Rating agency ICRA Sunday downgraded loan and debentures of infrastructure financing firm IL&FS to 'default risk' citing liquidity pressure on the group on the back of sizeable repayment obligations. The rating of IL&FS, which has reportedly defaulted on payment, is kept underrating watch with developing implications. IL&FS is the promoter of ITNL.

Apollo Tyres hit an intra-day low of Rs 226, falling 23% since August, after the company announced June 2018 quarter results. The company also proposed an investment plan of about Rs 38 billion towards a greenfield plant in Andhra Pradesh to make truck and bus radials (TBRs) and passenger car (PC) tyres.

“The company raised India capex guidance over FY19-FY21E to Rs 55 billion and consolidated capex guidance to Rs 65 billion. Increasing capex intensity along with rising raw material prices is a worry despite strong growth expectations, while a likely improvement in Europe profitability due to the Hungary plant ramp-up provides comfort," analysts at Equirus Securities said in result update.

COMPANYLATEST52 WK LOWPREV LOWPREV DATEAPOLLO TYRES228.05225.90228.3009-Nov-17B P C L325.90325.60337.0011-Sep-18BALMER LAWRIE202.20200.95202.8523-May-18BEML LTD736.00731.20737.4523-Jul-18BHARAT ELECTRON85.7585.3087.6511-Sep-18BHARTI INFRA.264.60264.60266.0006-Sep-18CAN FIN HOMES301.45301.45305.5005-Sep-18CASTROL INDIA151.10150.00150.0011-Sep-18CENTRUM CAPITAL47.6547.5048.0011-Sep-18COCHIN SHIPYARD413.65413.00416.0007-Sep-18D B CORP219.90219.50222.9511-Sep-18GIC HOUSING FIN301.40299.00305.0011-Sep-18GREENPLY INDS.187.25187.25191.0011-Sep-18GUJARAT GAS673.60660.55693.5011-Sep-18H P C L235.15233.50243.3011-Sep-18I O C L145.70145.70150.1528-Jun-18IL&FS TRANSPORT24.5024.5025.3010-Sep-18INDBULL.REALEST.136.15135.10139.2520-Jul-18INTERGLOBE AVIAT873.60865.35868.5505-Sep-18JET AIRWAYS259.00258.55261.6010-Aug-18JOHNSON CON. HIT1750.001725.201759.7011-Sep-18JP ASSOCIATES9.449.3210.0511-Sep-18M R P L72.4072.0073.1005-Sep-18MAHINDRA HOLIDAY245.10243.10244.0007-Sep-18MANAPPURAM FIN.84.4083.6587.5011-Sep-18NAVKAR CORPORAT.104.30104.10104.9011-Sep-18OIL INDIA200.40199.90200.0028-Jun-18PRESTIGE ESTATES218.65216.20219.0011-Sep-18S C I50.5549.7051.9011-Sep-18SHANKARA BUILD.1180.001155.551211.0011-Sep-18SOMANY CERAMICS422.00414.15424.0023-Jul-18SOUTH IND.BANK15.8015.7016.0011-Sep-18SUN TV NETWORK663.15655.70657.2511-Sep-18SYMPHONY1002.00995.001000.0011-Sep-18SYNDICATE BANK36.0035.9036.5011-Sep-18VARDHMAN TEXTILE1029.901009.001040.7510-Sep-18VODAFONE IDEA45.2545.0045.6507-Sep-18

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