ITC, Natco Pharma, and Birlasoft hit 52-week low; here’s why

NIFTY50, SENSEX traded lower in the mid-afternoon session today. At 1:00 pm, the benchmark NIFTY 50 was trading at 22,888, down 44 points, or 0.19%. The BSE SENSEX, meanwhile, was trading 248 points, or 0.33%, lower at 75,697.

As many as 84 stocks hit their lowest level in 52 week. The volatility index, or India VIX, slipped 1.4% to 15.20. NIFTY Financial Services and NIFTY Bank were among the top losers, while NIFTY Metal and NIFTY PSU Bank were up 1.53% and 1.31%, respectively.

ITC Ltd (52-week low: ₹396.2)

ITC shares declined on Thursday amid a broader correction in tobacco stocks on an anticipated hike in Goods and Services Tax (GST). Media reports suggested that the GST Council is likely to raise the GST on cigarettes and other tobacco products.

Currently, cigarettes and other tobacco products fall under the 28% slab. With additional levies, the total tax burden is expected to rise to 53%. Reports indicate that proposals under consideration to raise the GST on cigarettes and other tobacco products to 40%, which is the maximum permissible rate.

Natco Pharma (52-week low: ₹790.6)

Investors remained concerned about Indian pharma companies, including Natco Pharma, amid US President Donald Trump’s plans to impose 25% tariffs on imports of pharmaceuticals. Trump did not provide a date for announcing those duties but said he wanted to give some time for drug makers to set up US factories to avoid tariffs.

Kirloskar Oil Engines (52-week low: ₹590.30)

Kirloskar Oil Engines was in focus today as Thursday marked the last session for investors to buy the stock to qualify for the interim dividend. The company's board of directors announced that it will pay a dividend of ₹2.50 per share on March 12, with the record date being February 21.

Birlasoft (52-week low: ₹455)

Earlier this week, Birlasoft reported a 1.5% year-on-year increase in revenue to ₹1,363 crore for the third quarter ended December 2024. However, net profit fell 27.4% to ₹116.9 crore during the quarter due to higher employee costs.