Tata Motors, ACC, PFC, REC hit 52-week low

Tata Motors, ACC, Bharat Electronics (BEL), Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) were among 29 stocks from the S&P BSE500 index hitting their respective 52-week low in otherwise firm market.

Reliance Capital, Reliance Naval and Engineering, Unitech, Vakrangee, Laurus Labs, Eveready Industries, Glenmark Pharmaceuticals, Capital First and Allahabad Bank were others from the index that touched 52-week low on the BSE in intra-day trade on Tuesday.

At 12:43 pm; the S&P BSE Sensex was up 0.68% at 35,799 points, while the S&P BSE 500 index up 0.58% at 14,882 points.

Allahabad Bank falls 5% to Rs 42.05 on the BSE in intra-day trade after the Reserve Bank of India (RBI) has placed additional restrictions on Kolkata-based public sector bank, which is under prompt corrective action (PCA) since January this year. The regulator has debarred the bank from high-risk lending and raising high-cost deposits.

Reliance Naval and Engineering dipped 9% to Rs 13.15, extending its 46% fall in past 14 trading days, after the company reported weak set of numbers for the quarter ended March 2018 (Q4FY18). The company’s standalone net loss widen at Rs 4,086 million in Q4Y18 against a loss of Rs 1,399 million in the same quarter last year.

The state-owned Vijaya Bank classified Reliance Naval & Engineering, whose auditors had recently expressed doubts about the company's ability to continue as a “going concern”, as a non-performing asset from the March quarter.

Tata Motors