The National Stock Exchange (NSE) Nifty50 index which closed near 12,021.65 at previous trading session is now opened near 12,039.80 on a flat note. However the market couldn’t sustain its opening level and plunged as the RBI’s repo rate cut of 25 bps taken over the market. Currently, it is trading near 11,908.50, 113.15 points down. (06 Jun 19)
As a result, many stocks touched their 52-week lows on NSE today including the shares of Eros International Media Ltd which cracked near 20 percent and come to its 52-week low at Rs. 53.15 from Rs. 56.55. It is after the downgrade by rating agency CARE.
This downgrade is likely to hit Eros Media’s fundraising plans. Apart from this, some other featured stocks touched their 52-week lows on NSE including Fortis Healthcare, IIFL Finance, Jubilant Life Sciences, Provogue India, Reliance Infrastructure, Zenith Birla, and SRS Ltd.