Tata Motors, Force Motors, BEML hit fresh 52-week lows

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Kamlesh Pednekar)
Shares of Tata Motors, Tata Motors DVR, Force Motors, BEML, ICRA, Great Eastern Shipping Company and Max Financial Services were among nine stocks from the S&P BSE 500 index hitting their respective fresh 52-week lows in noon deal on the BSE.

Tata Motors (down 4% at Rs 339) and Tata Motors DVR (down 3.5% at Rs 189) have fallen below their previous 52-week low recorded on March 12, 2018 in intra-day trade.

In past three months, Tata Motors was down 15% as compared to 1% decline in the S&P BSE Sensex on concerns of volume growth in JLR (Jaguar Land Rover). The JLR’s total retail sales in February dropped by 2.6% year on year (YoY) at 39,911 units.

BEML was trading 2% lower at Rs 1,077, falling 21% in past nine trading sessions after the company said it is not aware of government in principle approval to sell 26% stake in the company.

“We would like to clarify that the Company is not aware of any information related to the said new item,” BEML said with reference to news flashed on TV channel on March 05, 2018 quoting "Govt gives in principle approval to sell 26% stake in BEML.”

Force Motors hit 52-week low of Rs 2,755, extending its past two months decline after the company reported a disappointing set of numbers for the quarter ended December 2017 (Q3FY18).

The company reported 36.98% YoY decline in standalone net profit at Rs 146 million in Q3FY18 against Rs 233 million in the same quarter of the previous fiscal.

BEML LTD 1073.00 1062.20 1085.95 09-Mar-18
FORCE MOTORS 2775.00 2755.00 2775.80 12-Mar-18
GATEWAY DISTR. 192.50 192.00 192.00 19-Feb-18
GE SHIPPING CO 350.80 349.60 350.25 12-Mar-18
GLAXOSMI. PHARMA 2222.00 2222.00 2241.55 12-Mar-18
ICRA 3645.00 3635.15 3666.15 13-Mar-18
MAX FINANCIAL 449.00 445.10 452.30 14-Mar-18
TATA MOTORS 340.10 339.25 340.65 12-Mar-18
TATA MOTORS-DVR 189.85 189.50 190.65 12-Mar-18

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