Stock market live: Hero Motocorp, Havells India, JBM Auto hit 52-week low; here’s why

NIFTY50 and SENSEX trades flat on monthly expiry day, with as many as 276 stocks hit their lowest level in 52 weeks on Thursday, February 27.

As of 1:15 pm, the benchmark NIFTY 50 was trading flat at 22,538, down just 9 points, or 0.04%. The BSE SENSEX also remained unchanged at 74,600, down 1.2 points.

The volatility index, or India VIX, dropped 2.77% to 13.34. Among sectoral indices, the NIFTY Media and Realty indices were the top losers, down 3.14% and 2.09% each, while NIFTY Bank and NIFTY Financial were among top gainers today.

Hero Motocorp (52-week low: ₹3,725)

Hero Motocorp has been in the news recently for the wrong reasons. Its market share in the two-wheeler segment has dropped to its lowest point in a decade. Some of the company’s key executives have departed, including chief executive officer (CEO) Niranjan Gupta who is stepping down with effect from April 30. The company’s newly launched models are also struggling to gain traction as was expected.

Earlier this month, Hero MotoCorp reported a 12.1% year-on-year rise in net profit for the third quarter of FY 2024-25 at ₹1,202.8 crore, while revenue from operations grew 5% to ₹10,210.8 crore.

Havells India and R R Kabel hit fresh 52-week low

Shares of Havells India dropped as much as 9.4% to hit their 52-week low of ₹1,402.20 on the NSE, while R R Kabel Ltd slumped 14% to hit the year’s low of ₹954.2 apiece.

On Tuesday, UltraTech Cement announced plans to extend its presence in the construction value chain with a foray into the wires and cables segment through a capex of ₹1,800 crore over two years. The company will set its first plant in Bharuch (Gujarat), which is expected to be commissioned by December 2026. It aims to meet the growing demand for wires and cables across various sectors, including residential, commercial, infrastructure and industrial applications.

JBM Auto (52-week low: ₹543.35)

JBM Auto has announced that it has incorporated a wholly owned subsidiary, JBM EV Ventures Pvt. Ltd, to offer electric vehicle (EV) battery services to customers on a subscription basis. The subsidiary will focus on electric vehicle battery services including leasing, renting and subscription-based battery solutions for customers. Additionally, it will be involved in the research, development, manufacturing and sale of advanced battery technologies and related products.