Stock market live: Reliance Industries, Tata Motors, Coal India hit 52-week low; here’s why

As many as 595 stocks hit their lowest level in 52 weeks on Wednesday, February 12, as the broader markets corrected for the sixth day in a row amid global uncertainties.

As of 11:52 am, the benchmark NIFTY 50 index was down 81 points, or 0.36%, to 22,991. The BSE SENSEX, meanwhile, was trading lower by 318 points, or 0.45%, at 75,951.6.

The volatility index, or India VIX, was up 2% to 15.16. Among sectoral indices, the NIFTY alty was the top loser, down 1.7%.

Amid the fall in the broader market, the investors lost more than ₹33.22 lakh crore as the market capitalisation of all BSE listed companies dropped to ₹4,07,42,356 crore as of 12:18 pm on February 12 from ₹44,064,839.94 crore on February 11. The key indices extended losses for the sixth straight day on Wednesday, with several bluechips hitting year-low levels.

Reliance Industries (52-week low: ₹1,193.3)

RIL was in the news this week after the company, which also owns the Mumbai Indians (MI) cricket team, bought a 49% stake in ‘The Hundred’ team Oval Invincibles for £60 million through its subsidiary RISE Worldwide. Surrey County Cricket Club (SCCC) confirmed the deal with Reliance but said it would continue to retain a majority stake of 51% in Oval Invincibles.

Asian Paints (52-week low: ₹2,185.7)

The company’s shares are on the decline after reporting subdued Q3 results recently. Asian Paints reported a 23.3% YoY fall in consolidated net profit to ₹1,110.5 crore during the December quarter. Revenue also took a hit, falling 6.1% YoY to ₹8,549.4 crore, compared to ₹9,103.1 crore in the same quarter last year.

Asian Paints was in the news after Mahindra Logistics Ltd, an integrated logistics solutions provider, announced its partnership with the company for integrated transportation solutions. Through this partnership, Mahindra Logistics would deploy a network of integrated line haul transportation solutions for Asian Paints for short distances to improve their supply chain efficiency, availability and visibility.

Coal India (52-week low: ₹351.55)

Coal India was the focus this week on news that its two subsidiaries, Bharat Coking Coal Ltd and the Central Mine Planning and Design Institute (CMPDI), are likely to go public in the second half of 2025-26. Vikram Dev Dutt, secretary of the coal ministry, has said that a lot of preparatory legwork for listing as mandated is currently going on.

Tata Motors (52-week low: ₹667.05)

For the December 2024 quarter, Tata Motors posted a 22.5% decline in consolidated net profit to ₹5,578 crore. Its consolidated total revenue from operations stood at ₹1,13,575 crore against ₹1,10,577 crore in the year-ago period.