M&M, Bosch, Voda Idea, and 16 other BSE500 stocks slump to three-year lows

A total of 51 stocks including M&M Financial, JSW Steel, Heritage Foods, Eris Lifesciences, Godrej Consumer, L&T Financial Motilal Oswal Financial and Shoppers Stop hit 52-week lows.

As many as 19 stocks from the S&P BSE500 index hit their respective three-year lows on the BSE in intraday on Wednesday. These included Mahindra & Mahindra (M&M), Bosch, Tata Coffee, Vodafone Idea, Monsanto India, Bayer Crop Science and Glenmark Pharmaceuticals, among others.

Besides these 19 stocks, a total of 51 scrips, including Mahindra & Mahindra Financial Services, JSW Steel, Heritage Foods, Eris Lifesciences, Godrej Consumer Products, L&T Financial Holdings, Motilal Oswal Financial Services and Shopper’s Stop touched their respective 52-week lows in today's session.

Notably, the benchmark index itself corrected more than three per cent in the past week.

At 11:24 am, the benchmark S&P BSE Sensex was down 0.69 per cent at 37,720 points. It has slipped 3.5 per cent or 1,361 points in past one week on heavy selling by foreign portfolio investors (FPIs). The FPIs have sold equity shares worth of Rs 7,108 crore during the period, data shows.

Yesterday, the International Monetary Fund (IMF) lowered India's GDP growth to 7 per cent from 7.3 per cent, due to the slowdown witnessed across consumption and investment segments. The slowdown accelerated in the recent quarters due to the spill-over effect of the liquidity constraint in the non-banking financial services sector.

M&M, Bosch, Ashok Leyland, Apollo Tyres, Bharat Forge, Eicher Motors, Escorts, Force Motors, JK Tyre & Industries and TVS Srichakra from the auto and related stocks hit multi-year lows on growth slowdown amidst rising inventory and weak consumer sentiments.

With the liquidity crisis in NBFCs and resultant slowdown in credit financing, disbursements for automobile industry is expected to remain slightly under pressure during H1FY20, CARE Ratings said in auto sector update.

Going forward, the rating agency expects demand to continue to remain muted during Q2FY20 and pick up only by Q3FY20 and continue in Q4FY20 with various planned product launches, festival demand and pre-buying of automobiles before the implementation of BS-VI norms on April 1, 2020.

M&M hit an over three-year low of Rs 551, down 2 per cent on the BSE. The stock was trading lowest level since February 12, 2016. It has slipped 44 per cent from its all-time high level of Rs 992 touched on August 30, 2018.

Analysts at JP Morgan said that moderating growth trends and lack of catalysts will remain a drag on valuations for M&M. Going into FY20, peaking of tractor volume growth, demand slowdown/ regulatory disruption (BS6) in UVs and margin pressures remain key concerns for the company, the brokerage firm said.

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE
ANDHRA BANK	21.50	21.05	21.40	23/07/2019
APOLLO TYRES	165.40	163.60	166.00	23/07/2019
ASHOK LEYLAND	72.10	71.95	74.70	23/07/2019
BASF INDIA	1056.50	1048.05	1075.15	23/07/2019
BAYER CROP SCI.	3170.25	3150.00	3200.60	23/07/2019
BHARAT FORGE	428.00	421.45	430.05	22/07/2019
BLUE DART EXP.	2408.95	2350.05	2356.00	17/07/2019
BOSCH	14755.00	14750.05	15000.00	23/07/2019
CARE RATINGS	809.80	808.15	815.65	23/07/2019
CASTROL INDIA	122.90	120.90	123.35	15/07/2019
CENTRAL BANK	18.10	17.45	18.35	23/07/2019
EICHER MOTORS	16361.55	16176.20	16983.20	22/07/2019
ERIS LIFESCIENCE	393.00	392.35	400.10	22/07/2019
ESCORTS	486.50	484.00	486.70	22/07/2019
EXIDE INDS.	185.30	184.75	185.20	22/07/2019
FORCE MOTORS	1165.45	1156.00	1196.00	22/07/2019
FUTURE CONSUMER	33.20	32.95	34.00	23/07/2019
G S F C	83.50	83.30	84.65	23/07/2019
GE T&D INDIA	215.00	209.10	211.10	23/07/2019
GLENMARK PHARMA.	418.90	417.55	418.60	23/07/2019
GODREJ CONSUMER	610.65	604.50	615.00	23/07/2019
H U D C O	35.10	34.90	34.90	22/07/2019
HERITAGE FOODS	353.00	350.80	351.35	18/07/2019
HIMADRI SPECIALT	80.70	80.55	81.60	22/07/2019
HIND.COPPER	34.55	34.30	35.05	23/07/2019
I D F C	33.40	33.30	33.60	19/06/2019
IDBI BANK	31.75	31.65	32.40	23/07/2019
INDIABULLS INTEG	128.60	128.20	133.15	23/07/2019
JK TYRE & INDUST	72.15	72.00	72.20	20/06/2019
JSW STEEL	248.15	247.85	252.15	10/07/2019
L&T FIN.HOLDINGS	104.70	103.20	105.70	22/07/2019
M & M	553.15	550.90	556.00	23/07/2019
M & M FIN. SERV.	305.00	289.15	335.25	23/07/2019
M R P L	55.70	55.30	55.90	22/07/2019
MMTC	20.25	20.25	20.70	23/07/2019
MONSANTO INDIA	2033.90	2025.55	2050.00	23/07/2019
MOTIL.OSWAL.FIN.	537.95	534.55	541.15	23/07/2019
NATL. ALUMINIUM	45.05	45.05	45.30	22/07/2019
NAVIN FLUO.INTL.	584.85	580.05	581.35	27/02/2019
NILKAMAL LTD	1034.45	1031.05	1050.00	23/07/2019
NOCIL	90.4	90.35	91.4	23/07/2019
S A I L	44.2	44.1	44.1	11/02/2019
S C I	28.15	28.1	28.5	23/07/2019
SCHAEFFLER INDIA	4020	3971.9	4160	22/07/2019
SHOPPERS ST.	419	417.3	423.3	23/07/2019
STRIDES PHARMA	345	337.85	339.8	23/07/2019
TATA COFFEE	73.65	73.4	74.2	23/07/2019
TATA ELXSI	667.7	666.7	669.5	23/07/2019
TRIVENI TURBINE	93.95	93.75	94	25/10/2018
TVS SRICHAKRA	1750	1750	1766	24/06/2019
VODAFONE IDEA	10.11	10.04	10.45	23/07/2019