Tata Steel, SAIL, Coal India among others hit 52-week low in weak market today, check full list

Benchmark indices were dragged by losses in banks, energy and FMCG stocks after opening in the green. Only the IT stocks remained resilient in a weak broader market. Global factors like the cautious approach among investors over the expected protectionism measures by the soon-to-be-inducted Trump government in the United States, the strong US dollar and economic uncertainties in China also dampened the D-Street sentiment.

_Here’s a look at three major stocks that touched their 52-week lows on Friday, January 10. _

Tata Elxsi Ltd (52-week low: ₹5,921)

Shares of Tata Elxsi Ltd tanked 8% on Friday to hit a fresh 52-week low of ₹5,921 apiece on the NSE after a weak earnings report for the quarter ended December 2024. The stock is down 19% in the past month and more than 31% in the last year.

The company on Thursday reported a 13.3% quarter-on-quarter decline in net profit at ₹199 crore for the period ending December 2024 compared to ₹229.4 crore in the September quarter. Revenue for the quarter stood at ₹939.2 crore, down 1.7% compared to ₹955.1 crore in Q2FY25.

Tata Steel Ltd (52-week low: ₹126.70)

Shares of Tata Steel Ltd fell as much as 2.5% on Friday to hit their 52-week low of ₹126.70 apiece. This is the third consecutive session of decline for the stock.

The sector's overall downward trend amid a weak market dragged the stock down. The share price has declined by over 14% in the past month and 4% in the last year.

Earlier this week, Tata Steel reported an increased volume of Indian steel production at 5.68 million tonnes, 7.6% higher than the previous quarter and 6.2% higher than the corresponding quarter of last year. Tata Steel said that the growth reflected in the provisional production volume figures was aided by the commissioning of the 5 MTPA blast furnace at Kalinganagar in September.

Steel Authority of India Ltd (52-week low: ₹104.80)

Shares of Steel Authority of India Ltd (SAIL) dropped 3.2% to hit their 52-week low of ₹104.80 on Friday. The stock has fallen 15% in the last month and 7% in the past year.

SAIL shares were under threat of entering the F&O (futures and options) ban period on Thursday after open positions exceeded 80% of the set market-wide limit. A stock enters the ban period as and when the combined open positions in F&O cross the set 95% market-wide limit for that particular stock. During the ban period, taking fresh positions in a particular stock is not allowed. However, traders holding existing positions are allowed to square their positions.

Coal India Ltd (52-week low: ₹364.70)

Coal India Ltd shares declined 2% on Friday to hit their 52-week low of ₹364.7 apiece on the NSE. The stock is down 10% in the past month and 2.6% in the past year.

Earlier this week, Coal India and IREL (India) signed a non-binding memorandum of understanding (MoU) to cooperate and collaborate on developing critical minerals. The MoU aims to promote the development of mutually agreed assets of critical minerals, including mineral sands and rare earth elements.

Other stocks that hit 52-week low: Bajaj Housing Finance Ltd, Indian Railway Catering And Tourism Corp. Ltd (IRCTC), Union Bank, Yes Bank Ltd, Tata Technologies Ltd, Bajaj Consumer Care Ltd, NMDC Ltd, Container Corporation of India Ltd, PVR INOX Ltd, VRL Logistics Ltd, Cello World Ltd, Motherson Sumi Wiring India Ltd, Sona BLW Precision Forgings Ltd and Bandhan Bank Ltd, among others.