Stock market crash: IRCTC along with 2 other stocks hit 52-week low; here’s why

As many as 59 stocks hit their lowest level in 52 weeks on Wednesday, January 8, as the broader markets traded in the negative territory.

As of 1:30 pm, the NIFTY 50 index was down 146 points, or 0.62%, to 23,561, while the 30-share SENSEX dropped 473 points, or 0.60%, to 77,726.

The volatility index, or India VIX, inched up 0.3% to 14.7. All the sectoral indices were trading in the red except the NIFTY Oil & Gas and NIFTY FMCG. The Realty and Consumer Durables indices were the biggest losers, down 1.8% and 3.4%, respectively.

Aarti Industries (52-week low: ₹390.2)

The company’s stock has been under pressure recently, especially after the second-quarter result announcement. On November 11, 2024, the stock declined nearly 8% to hit a 52-week low after the company released its Q2FY25 results. The stock has dropped 11.25% since the release of its Q2 results.

In the September quarter, the company reported a 42% YoY fall in net profit to ₹52 crore. Meanwhile, its revenue from operations increased 11% YoY to 11.9%. The company also lowered its earnings before interest, tax, depreciation, and amortisation (EBITDA) guidance for the current financial year to ₹1,050 crore from ₹1,400 crore earlier. Its EBITDA for the quarter decreased by 16% to ₹196 crore from ₹233 crore a year ago.

IRCTC (52-week low: ₹761.8)

IRCTC was in the news recently after its app and website experienced multiple outages in December. Incidentally, the outages began at the same time, around 9:50 a.m., all three times, which was 10 minutes before the opening of the tatkal ticket bookings.

Birlasoft Ltd (52-week low: ₹530.2)

Birlasoft announced on Tuesday the resignation of Roopinder Singh, Chief Executive Officer for the Americas, due to personal reasons. Singh, a key member of the company’s senior management team, will resign from his role effective close of business hours on February 7, 2025.