The domestic indices crashed over 2% intraday on Friday as the market remained nervous ahead of the Budget. The Hindenburg’s report further dragged the Adani stocks lower. The BSE Sensex shed 874.1 points or 1.45% to close at 59,330 while the NSE Nifty 50 declined by 287.60 points or 1.61% to end at 17,604.
Here are 4 stocks that reached a new 52 Week Low on Friday as the bears gripped the markets:
Central Depository Services (India) Limited
On Friday, the shares of Central Depository Services (India) Ltd hit a new 52-week low of Rs 1,005.10 and ended the day at Rs 1,020 levels. In the past six months, the stock has declined by 9 percent and in a year it has shed 32 percent.
Central Depository Services Limited is a Market Infrastructure Institution (MII) providing services to all Market participants including Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers, and Investors.
The company is yet to release its Q3 results. In Q2FY23, the company reported a total revenue of Rs 148.95 Crore and a net profit of Rs 82.18 Crore. The company has a market capitalization of Rs 10,605 Crore and a dividend yield of 1.48%.
Voltas Limited
The shares of Voltas Limited, a Tata group company, have been declining and reaching new lows for quite some time. On Friday, it declined further and reached a new low of Rs 737.20. In the past six months, it has shed 23 percent and on a yearly basis, it has declined by 36 percent.
Voltas Limited, a Tata group company, is engaged in the business of air conditioning, refrigeration, and electro-mechanical projects as an EPC contractor both in domestic and international geographies. It is the largest air conditioning company in India.
The company is yet to release its Q3 results. In Q2FY23, the company reported a total revenue of Rs 11,768.36 Crore and a net profit of Rs 22.87 Crore. The company has a market capitalization of Rs 24,649 Crore and a dividend yield of 0.74%.
Relaxo Footwears Limited
Relaxo Footwears Limited saw its shares decline by more than 3 percent to decline to a new 52-week low of Rs 808 on Friday. In the past six months, it has shed 17 percent and on a yearly basis, it has declined by 36 percent.
Relaxo Footwears Limited is an Indian multinational footwear manufacturer which stands as the largest footwear manufacturer in the country. It is a Fortune 500 (India) company that manufactures slippers, sandals, and sports & casual shoes.
In Q2FY23, the company reported a total revenue of Rs 669.65 Crore and a net profit of Rs 22.4 Crore. The company has a market capitalization of Rs 20,170 Crore and a dividend yield of 0.31%.
Berger Paints Limited
The paint stocks tumbled on Friday to trade at a new 52-week low of Rs 534.05. In the past six months, the stock has declined by more than 12 percent and in a year, it has dipped by 26 percent.
Berger Paints Ltd is engaged in the Manufacturing and selling of Paints. It is the second-largest paint company in the country, the 4th Largest paint company in Asia, and the 7th Largest decorative paint company in the world.
In Q2FY23, the company reported a total revenue of Rs 2,670.92 Crore and a net profit of Rs 216.45 Crore. The company has a market capitalization of Rs 52,404 Crore and a dividend yield of 0.57%.
Written by Anoushka Roy
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
