Stock market live: Nestle India, Ola Electric and Honasa Consumer hit 52-week low; here’s why

As many as 522 stocks hit their lowest level in 52 weeks on the National Stock Exchange of India (NSE) on Tuesday, January 28, even as the benchmark indices traded in the positive territory.

At 1:30 pm, the NIFTY 50 index was trading at 23,039.80, up 210 points, or 0.92%. The BSE SENSEX, meanwhile, rallied 748 points, or 1%, to 76,114.21.

Despite the overall markets remaining positive, investors were jittery and offloaded stocks with lofty valuations and negative triggers. Globally, tech stocks took a hit and dragged the markets down after the emergence of low-cost China-based AI start-up DeepSeek.

On Tuesday, India’s volatility index, or India VIX, was down 0.3% to 18.07. The NIFTY Pharma was the biggest loser, down 2.5%, while the NIFTY Bank was the biggest gainer, up 2.1%.

Emcure Pharmaceuticals (52-week low: ₹1,109)

Like other pharma stocks, Emcure’s share price has been on a downward slope after the US halted foreign aid for the President’s Emergency Plan for AIDS Relief (PEPFAR) from this week, risking disruption in the supply of anti-retroviral (ARV) drugs to millions. Emcure also makes antivirals under the brand name ‘Spegra’ to treat HIV and other conditions.

Honasa Consumer (52-week low: ₹221.15)

The stock has seen a sharp correction in the past six months, falling 52%. This was on account of the company reporting a net loss of ₹18.5 crore for the second quarter of financial year 2024-25, a decline from the record ₹40.2 crore profit in the June 2024 quarters. The company attributed the loss to its ongoing transition to a D2C model under “Project Neev”, which necessitated an inventory correction of ₹63 crore.

Ola Electric Mobility (52-week low: ₹64.60)

Ola Electric was in the news over the weekend after the company officially confirmed the beginning of the production of its electric motorcycle, Roadster X. Ola Electric CEO Bhavish Aggarwal shared images on social media showing the motorcycle being assembled at the company’s manufacturing facility.

Nestle India (52-week low: ₹2,142)

The company is set to announce its financial results for the December quarter (Q3 FY25) this week on January 31. The board of directors will also consider declaring a second interim dividend for the financial year 2024-25. Nestle India has also set February 7 as the record date for the second interim dividend.