Stocks Hit 52-Week Lows: Tata Technologies, Bajaj Housing Finance, and Tanla Platforms Lead the Decline

On Wednesday, January 22, a total of 119 stocks on the NSE hit their lowest levels in 52 weeks, while the broader market showed slight positive movement. As of 11:55 AM, the NIFTY 50 index was up 36 points, or 0.16%, at 23,060.5, while the BSE SENSEX gained 228.48 points, or 0.3%, reaching 76,066.84. The volatility index, India VIX, remained unchanged at 17.05.

In sectoral movements, NIFTY Metal faced the biggest drop, down 1.6%, while NIFTY IT emerged as the biggest gainer, rising by 1.3%. Below are the major stocks that touched their 52-week lows:

1. Tata Technologies Ltd – ₹788.65

Shares of Tata Technologies Ltd fell by 3.5% to hit a fresh 52-week low of ₹788.65 on Wednesday. The stock has seen a decline of 10.5% in the past month and over 30% in the last year. Despite a marginal drop in Q3FY25 net profit to ₹169 crore from ₹170 crore a year ago, the company reported a modest 2% increase in its revenue, reaching ₹1,317 crore. After debuting with a strong 140% premium in November 2024 at ₹1,200 per share, the stock has now plummeted by 34.2% from its listing price.

2. Bajaj Housing Finance Ltd – ₹110.67

Bajaj Housing Finance Ltd, the second-largest housing finance company in India, saw its shares decline by 2.2% on Wednesday, touching a 52-week low of ₹110.67. The stock has fallen nearly 12% in the past month and 26.2% since its listing in September 2024 at ₹150 per share. A sharp drop occurred after the company’s three-month lock-in period for anchor investors ended on December 12, 2024, which led to increased supply of shares, potentially driving the price down.

3. Tanla Platforms Ltd – ₹617.05

Tanla Platforms Ltd's shares dropped 7.4% to hit a 52-week low of ₹617.05 following the company’s quarterly earnings for Q3FY25. The company reported a 15% year-on-year decline in net profit to ₹118.51 crore, compared to ₹140.13 crore in the same period last year. Revenue remained largely flat at ₹1,009.82 crore. Additionally, Tanla announced an interim dividend of ₹6 per equity share (600%) with a record date of January 27, 2025.

4. Delhivery Ltd – ₹312.35

Delhivery Ltd's stock plunged over 5% to reach a 52-week low of ₹312.35 on Wednesday, marking a 12% drop over the past month and a 19% decline in the last year. This comes after Delhivery entered the competitive quick commerce space with its rapid delivery service, "Rapid Commerce," aimed at providing deliveries in under two hours. The company plans to set up several stores across metros in the coming months.

Other 52-Week Highs

While some stocks faced significant declines, several companies saw their stocks hit 52-week highs. These include Indiamart Intermesh Ltd, Cyient DLM Ltd, Kansai Nerolac Paints Ltd, JK Tyre and Industries Ltd, Bajaj Electricals Ltd, Brainbees Solutions Ltd (FirstCry), and more. Other stocks touching their 52-week highs include Easy Trip Planners Ltd, PVR Inox, Sanofi India Ltd, and Rajesh Exports Ltd.

As the market continues to fluctuate, investors are closely monitoring these movements for signs of recovery or further decline in key stocks.