Business · India Bureau
13 state-owned firms hit 52-week lows as market sentiment weakens
A broad-based sell-off in central public sector enterprises saw 13 major stocks touch their lowest levels in a year during Thursday's trading. The decline reflects growing investor caution across India's state-controlled industrial and energy sectors.
LSN India ·
Major state-owned companies including ONGC, NTPC, BDL, BEL and IOC were among 13 central public sector enterprises that hit 52-week lows during intraday trading on the BSE on Thursday, signalling weakening market sentiment towards the sector.
Power Grid, NMDC, IREDA, IRFC, RCF, RVNL, SJVN and Mazagon Dock Shipbuilders also touched their lowest trading levels of the past year, with the broader weakness suggesting investor concerns extending across multiple segments of India's state-controlled industrial base.
The simultaneous decline across such a wide range of CPSEs—spanning energy, defence, railways and shipping—indicates systemic headwinds rather than company-specific issues. The sell-off comes amid broader market volatility and shifting investor preferences in the domestic equity markets.
The 52-week lows represent significant depreciation from earlier valuations and may present both risks and potential opportunities for investors, depending on their assessment of the underlying fundamentals of individual enterprises and sectoral recovery prospects.
Market participants are likely watching for any policy interventions or corporate announcements that might provide support to these state enterprises and potentially reverse the downward momentum in coming sessions.