D-Street Buzz: Over 250 stocks hit 52-week low on BSE; Maruti falls 2%, UPL jumps

Source: moneycontrol.com

Benchmark indices including the Nifty and the Sensex continues to trade in the red with Nifty down 58 points and is trading at 11,773 while the Sensex shed 245 points and is trading at 39,356 level.

Auto stocks trade in the red, the top losers are Maruti Suzuki which shed 2 percent after global brokerage house UBS downgraded its rating to sell from buy amid sharp volume decline. The research house also slashed its price target on the stock by 27.5 percent to Rs 5800 from Rs 8000 per share earlier, implying 13 percent potential downside from current levels.

The other losers are Motherson Sumi Systems, TVS Motor Company and Ashok Leyland.

Pharma stocks continue to drag led by Aurobindo Pharma, Cadila Healthcare, Divis Labs, Glenmark Pharma, Dr Reddy’s Labs and Sun Pharma.

rom the media space, the top losers are Eros International Media, Dish TV, Sun TV Network, PVR, TV18 Broadcast and Network18.

From the BSE midcap space, the top gainers are DHFL, Reliance Power, Oberoi Realty, MRPL and Godrej Industries while the top losers are Emami, Glenmark Pharma, Godrej Properties and M&M Financial Services.

The top gainers from the smallcap space are Hotel Leela which zoomed 20 percent followed by Jet Airways, TBZ and Lakshmi Vilas Bank while the top losers are BL Kashyap & Sons, eClerx Services, Capital Trust and Sobha.

Shares of agrochemical company UPL rebounded 5 percent intraday on June 21 after falling more than 8 percent in previous session, as Deutsche Bank maintained buy call on the stock with a target price at Rs 1,050, implying 21 percent potential upside from current levels.

Shares of Mumbai-based Godrej Properties fell 3 percent intraday on June 21 after global investment firm Morgan Stanley downgraded the stock on valuation concerns.

“We downgrade Godrej Properties to underweight from equal-weight, but raised price target to Rs 802 from Rs 707 earlier,” the brokerage said, adding current valuation appears ahead of fundamentals.

India VIX jumped 3.14 percent and is trading at 14.44 levels.

The top gainers from the NSE include UPL, Hindalco Industries, Indiabulls Housing Finance, Adani Ports and UltraTech Cement while the top losers are YES Bank, Maruti Suzuki, Bharti Infratel, Sun Pharma and Dr Reddy’s Labs.

The most active stocks are Indiabulls Housing Finance, YES Bank, UPL, IndusInd Bank and Jet Airways.

250 stocks have hit 52-week low on BSE including Capital Trust, Asian Hotels, Eveready Industries, Eros International Media, Ashapura Intimates, Mercator, Castex Technologies, eClerx Services, Alembic Pharma, Emami, Glenmark Pharma and TVS Srichakra among others.874 stocks advanced and 829 declined while 388 remained unchanged on the NSE. On the BSE, 1070 stocks advanced, 1213 declined and 123 remained unchanged.