Stock market fall: Aarti Drugs, Ola Electric, Sterling & Wilson Renewable hit 52-week low

NIFTY and SENSEX traded lower in the mid-afternoon session. Markets opened higher in early morning trades as ease in the US and domestic inflation numbers supported the positive move in the morning session.

The US Consumer Price Index (CPI) increased at a slower pace of 0.2% in February, bringing the annual inflation rate to 2.8%. Meanwhile, in the domestic market annual inflation rate eased to a 7-month low of 3.61% in the previous month, slipping below the RBI’s target range of 4% to 6%.

Global investors were closely watching the US inflation numbers as US President Donald Trump's decision to impose several trade tariffs on imports was expected to create price pressure.

Amid a fall in the boarder markets, as many as 203 stocks hit their lowest levels in 52 weeks. Around 2:00 pm, the benchmark NIFTY 50 inched down 48 points, or 0.22%, to 22,422. The BSE SENSEX also slipped 91 points, or 0.12%, to 73,937.

The volatility index, or India VIX, was down 2.4% to 13.37. Among the sectoral indices, NIFTY Realty, NIFTY Media and NIFTY Auto were the top sectoral losers.

Ola Electric Mobility (52-week low: ₹50.41)

Ola Electric was in the spotlight on Wednesday after reports emerged that the company was in regulatory trouble, with transport authorities across various states conducting raids, closing showrooms, seizing vehicles and sending show-cause notices due to the stores allegedly not having trade certificates.

Senco Gold (52-week low: ₹251.5)

The stock had started tumbling around mid-February after the company reported a 70% drop in its consolidated net profit to ₹33 crore, compared to a net profit of ₹109 crore in the same period last year. This decline was due to a one-time effect of the customs duty reduction. However, revenue from operations stood at ₹2,103 crore during the quarter, marking the highest-ever quarterly revenue for the company.

Sterling and Wilson Renewable Energy (52-week low: ₹222)

The company on Wednesday said that its board has approved the appointment of Ajit Pratap Singh as a chief financial officer (CFO) and key managerial personnel (KMP) with effect from March 24, 2025. Furthermore, Sandeep Mathew will cease to be the interim CFO effective from the close of business hours on March 23, 2025, and will continue in his role as head of investor relations.

Aarti Drugs (52-week low: ₹332.60)

Last month, Aarti Drugs had reported a modest increase in its net profit for the December 2024 quarter, despite a decline in revenue. Profit after tax rose 1.1% year-over-year to ₹37.1 crore, while revenue declined by 8.1% y-o-y to ₹556.6 crore.