The Indian stock market saw a sharp decline on Friday, February 14, as benchmark indices slipped into the red, weighed down by heavy losses in pharma, financials, and oil & gas stocks. By noon, the Sensex tumbled 431 points, trading at 75,707, while the Nifty slipped 168 points to 22,863, a 0.73% drop. The broader market took an even bigger hit, with the BSE Midcap and Smallcap indices plunging nearly 3% each.
One of the biggest concerns was the steep decline in stocks across multiple sectors, with over 300 stocks hitting their 52-week lows. Several well-known names, including Deepak Nitrite, Canara Bank, Delta Corp, Hero MotoCorp, and Tata Chemicals, were among the biggest losers on the BSE 100 index.
Key stocks that hit 52-week lows Deepak Nitrite
Share price of Deepak Nitrite nosedived 15%, hitting a 52-week low of Rs 1,902.50, after the company reported a 51.5% YoY drop in net profit to Rs 98 crore for Q3 FY25, down from Rs 202 crore last year.
The stock has been on a downward spiral, falling 13% in the past year, 18.6% in just one week, and nearly 32% over the past six months.
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Public sector lender Canara Bank share price also faced the heat, as its stock fell to a 52-week low of Rs 86.12 during the session.
The stock is currently trading at Rs 86.66, with a 7.46% drop in the last five days, a 7.03% decline over the past month, and a 23.50% fall in the past year.
Hero MotoCorp
Auto giant Hero MotoCorp share price continued its losing streak, hitting a new 52-week low of Rs 3,902.
The stock has been on a downward trend for five consecutive sessions and has dropped 18% in the past year. It is currently trading below all key moving averages.
Tata Chemicals
Share price of Tata Chemicals fell 7.7% in just five days, reaching a new 52-week low of Rs 846.45.
The stock has been on a steady decline, with a 16.79% loss over the past six months and a 12.18% fall in the last year.
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