Stock market highlights: Sula Vineyards, IndiaMART, Cera Sanitaryware hit 52-week low; here’s why

As many as 88 stocks hit their lowest level in 52 weeks on Friday, February 21, as the broader markets closed lower for the fourth consecutive day.

The benchmark NIFTY50 closed at 22,763, down 149 points, or 0.65%. The BSE SENSEX, meanwhile, closed 424 points, or 0.56%, lower at 75,311.

The volatility index, or India VIX, closed 1.05% to 14.53. All the sectoral indices, except the NIFTY Metal (+0.87%), were trading in the red. NIFTY Auto and NIFTY Pharma were the top losers, down 2.68% and 2.03%, respectively.

IndiaMart InterMesh (52-week low: ₹2,016)

The company’s Q3FY25 numbers highlighted low gross additions to the customer base, persistently high customer churn, and weak collections. These overshadowed the 47.6% year-on-year jump in its net profit to ₹121 crore for the third quarter.

Cera Sanitaryware (52-week low: ₹5,815)

Shares of sanitaryware companies are witnessing a downward trend. The current market demand for tiles remains subdued due to sluggish exports and subdued retail demand. High inflation has reduced homebuyers’ affinity for spending, curbing demand in the building materials industry and slowing the real estate sector.

Sula Vineyards (52-week low: ₹285)

The stock is under pressure as MSCI’s latest smallcap index reshuffle, set to take effect on February 28, will exclude 19 shares, including Sula Vineyards. The exclusion from the smallcap index could impact short-term liquidity in the stock as index-linked investors exit their positions. Analysts say this could result in $3 million of potential passive outflows for Sula Vineyards.

Go Fashion (India) Ltd (52-week low: ₹785.50)

Last month, Go Fashion reported flat earnings growth for the December 2024 quarter. Revenue from operations stood at ₹214.7 crore for Q3FY25, up 6% compared with a year ago. Profit after tax was reported at ₹24.3 crore, up 4% YoY.