UltraTech Cement, NTPC among 19 stocks in BSE500 that hit their 52-week low

Shares of UltraTech Cement, NTPC, Bharti Infrastructure, Tata Power Company, Vedanta, India Cements and Shree Cement were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE.

CG Power & Industries, Cummins India, Inox Wind, JK Lakshmi Cement, Kirloskar Oil Engines, Mangalore Refinery Petrochemicals (MRPL), Manpasand Beverages, Motilal Oswal Financial Services and NHPC too hit their respective 52-week lows today.

CG Power and Industrial Solutions has dipped 7% to Rs 51, extending its 29% fall in past three weeks, after the company reported a consolidated net loss of Rs 11.66 billion for the financial year ended March 2018 (FY18). It had posted loss of Rs 4.9 billion in FY17.

Manpasand Beverages locked in lower circuit for the third straight trading day, down 5% at Rs 143, after the exchange placed shares of the company under ASM (Additional Surveillance Measure) framework effective from June 15, 2018.

India Cements down 3% to Rs 110, falling 16% since May 25, due to a weak operating performance for 4QFY18 because of the decline in realisation. Limited pass-through because of weakness in key company’s markets led to EBITDA (earnings before interest, tax, depreciation and amortization) margin compression of 291bps year on year to 11.3% in Q4FY18.

Analysts at Nirmal Bang Equities expect India Cement’s EBITDA margin to hover around 14% for the next two years because of cement over-supply in South India markets, thereby keeping realisation under pressure. Additionally, the company’s cost inflation has not been showing a significant improvement and this is likely to continue. Further, the debt level is likely to be higher, impacting the interest outgo.

Vedanta hits fresh 52-week low of Rs 225, down 3%, extending its previous day’s 3% decline after the media report suggested that the company faces another Sterlite like crisis in Orissa.

On clarification on news reports, the company said that its refinery continues to operate as usual. The company has not mined any bauxite from Niyamgiri.

NTPC Limited