Infosys, Sun Pharma, Wipro hit 52-week lows

Mindtree, Mahindra Lifespace and Welspun Corp from the Nifty500 index hitting their respective 52-week lows today.

Infosys, Wipro and Sun Pharmaceutical Industries from the benchmark Sensex and Nifty50 indices have hit their respective 52-week lows on the bourses today.

All these three stocks were down in the range of 1%-2%, as compared to 0.16% fall in the benchmark indices at 01:21 pm. 

Sun Pharma was too down 1.8% to Rs 701, also its 52-week low on NSE. The pharmaceuticals company will announce its Q2FY17 results on November 10, 2016.

The board will also consider the proposal for the merger/amalgamation of Ranbaxy Drugs Limited, Vidyut Investments Limited, Gufic Pharma Limited and Sun Pharma Medisales Private Limited (formerly known as Solrex Pharmaceutical Company), all four companies being wholly owned subsidiaries of Sun Pharmaceutical Industries, with Sun Pharmaceutical Industries subject to receipt of necessary approvals.

In past three-months, the stock of Sun Pharma underperformed the market by falling 16% against less than 1% decline in Nifty50 index.

Infosys and Wipro too underperform the market post July-September (Q2FY17) results.

Wipro, which down 1.8% at Rs 450 on NSE in intra-day trade, have fallen 10% since October 21. The company had reported disappointing Q2F17 results and a sluggish IT revenue guidance for the third quarter ending December 2016 (Q3FY17).

The stock of Infosys was down 1% at Rs 970 on NSE. Since October 14, it fell 8% after the India’s second-largest software exporter has cut its annual revenue forecast for the second time in three months. The lower forecast indicates that Infosys will see flat revenue over the next six months, analysts said.

Mindtree, Mahindra Lifespace Developers and Welspun Corp are others from the BSE500 and Nifty500 index hitting their respective 52-week lows today.

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE
INFOSYS	971.00	969.45	980.00	02-Nov-16
MAHINDRA LIFE.	410.75	405.50	414.90	09-Mar-16
MINDTREE	426.20	425.05	430.00	02-Nov-16
SUN PHARMA.INDS.	709.45	701.00	704.00	24-Nov-15
WELSPUN CORP	68.50	68.40	69.00	02-Nov-16
WIPRO	452.30	449.65	452.40	02-Nov-16