Shares of Manappuram Finance, Century Plyboards, Greenply Industries, Gujarat Gas and Shankara Building Products were among 34 stocks from the S&P BSE Smallcap index hitting their respective 52-week lows on Monday.
Aptech, Deepak Fertilisers & Petrochemicals Corporation, LT Foods, Snowman Logistics, Speciality Restaurants, Symphony, and Vardhman Textiles too hit 52-week lows as the benchmark index fell 1% after US President Donald Trump raised the stakes in the heated trade dispute with China.
Shares of all three listed companies of IL&FS Group have hit their respective 52-week lows on the BSE, falling by up to 16% in intra-day trade after rating agency ICRA on Sunday downgraded loans and debentures of infrastructure financing firm.
“Rating agency ICRA has effected a multi-notch rating downgrade for IL&FS, which is facing liquidity pressure and overleveraged. Its loans and debentures now carry “BB” (junk or non-investment status) as against the previous rating of "AA+". Also, the commercial paper carries "A4" rating against the previous rating of "A1+",” Business Standard reported.
IL&FS Transportation Networks (ITNL) has slipped 16% to Rs 25.30 on the BSE. On the other hand, IL&FS Engineering and Construction Company (IECCL), too, hit a new low of Rs 15.25, down 9%, while IL&FS Investment Managers plunged 15% to Rs 9.70 on the BSE on Monday. In comparison, the S&P BSE Sensex was trading 1.16% lower at 37,943 points at 02:53 pm.