Stock market today: Asian Paints, along with 2 other stocks hit 52-week low; here’s why

On Wednesday, January 15, as the broader markets traded flat, as many as 51 securities hit their 52-week low levels on the NSE.

At 2:15 pm, the NIFTY 50 index was trading at 23,218, up 45 points, or 0.2%. The BSE SENSEX, meanwhile, was trading at 76,703, up 213 points, or 0.27%.

The volatility index, or India VIX, was down 1.3% to 15.27. The NIFTY Realty Index was the biggest gainer, up 2%, while the NIFTY Pharma was the major loser, down 1.1%.

Asian Paints (52-week low: ₹2,220)

The stock has seen a downward trend recently because of increasing competition from new players in the paint industry and on account of higher crude oil prices. Both these factors are expected to weigh on the profitability and margins of the company. The paint stocks have been under pressure since the crude oil price surpassed $81 per barrel on Monday, the highest level since August 2024. The rise in crude oil prices leads to higher raw material costs for the paint companies.

Sterling and Wilson Renewable (52-week low: ₹403.35)

The share price sharply recovered after the drop in early trade to gain 5% later during the session. The stock is now down almost 11% in the past month and 7% in the last one year.

Sterling and Wilson Renewable Energy, which specialises in solar engineering, procurement, and construction (EPC) services, will announce its December 2024 quarter earnings on January 16.

Cello World (52-week low: ₹673.1)

The stock is down 17.6% over the past one month and 25% in the past one year. Since its listing in November 2023, the stock is down over 14%.

Cello World operates in the consumer houseware, stationery, molded furniture, and glassware segments. It has 14 manufacturing facilities at six locations across the country, enabling in-house production of its diverse product line. The company’s consolidated net profit for the September 2024 quarter stood at ₹81.6 crore, while revenue from operations was ₹490 crore.