 "United Breweries, Alstom T&D India, Ricoh India hit 52-week lows")
Shares of United Breweries (Rs 726), Alstom T&D India (Rs 344) and Ricoh India (Rs 272) have touched their respective 52-week lows on the BSE in intra-day trade in an otherwise firm market.
At 10:08 am, United Breweries was down 1% at Rs 728 on the BSE. Since March 23, the shares of breweries & distilleries have dropped 14% as compared to less than 1% decline in S&P BSE Sensex, after the company in a notification to the BSE said that the YES Bank invoked shares pledged by McDowell Holdings, a unit of UB Holdings, majority owned by Mallya.
At 10:08 am, United Breweries was down 1% at Rs 728 on the BSE. Since March 23, the shares of breweries & distilleries have dropped 14% as compared to less than 1% decline in S&P BSE Sensex, after the company in a notification to the BSE said that the YES Bank invoked shares pledged by McDowell Holdings, a unit of UB Holdings, majority owned by Mallya.
Read more from our special coverage on "UNITED BREWERIES"
Heineken International B.V., the promoter of United Spirits, on March 23, had bought 2.11 million shares at an average price of Rs 846 per share via block deal on BSE.
Alstom T&D India was down 2.3% at Rs 346, extending its Wednesday’s 6.4% decline on the BSE, after the company reported a sharp 45% year on year (YoY) decline in net profit at Rs 30 crore for the quarter ended March 31, 2016 (Q4). Net sales declined 29% at Rs 972 crore on YoY basis.
The company said sales were mainly impacted by realignment of revenue recognition milestones and phasing of project and export sales during the last quarter.
Ricoh India locked in lower circuit of 5% at Rs 272, falling 52% from Rs 569 since March 18, on the BSE. The stock was shifted to ‘Z’ group on the BSE with effect from March 28, 2016.
The scrips which form part of the 'Z' group are compulsorily settled on a trade-to-trade basis. If a company is shifted for settlement on trade-to-trade basis, selling or buying of shares in that scrip results into giving or taking delivery of shares at the gross level and no intra-day netting off/squaring off is permitted.
