Indian Midcap Stocks Hit Fresh Lows Amid Market Decline
The Indian stock market continued its downward trend on Friday, September 11, with the benchmark Sensex slipping 120 points to close at 74,781. This decline was accompanied by nine stocks from the BSE 150 Midcap Index hitting fresh 52-week lows, marking their lowest price levels in the past year.
IRCTC (Indian Railway Catering And Tourism Corporation) was among these mid-cap stocks that touched a new 52-week low at Rs. 462.25 on Friday, with its current market price (CMP) standing at Rs. 462.9. Notably, in the last one month, IRCTC has fallen about 11%.
Other midcap stocks that reached their lowest price levels over the past year include PI Industries, Havells India, Procter & Gamble Hygiene and Health Care, Rail Vikas Nigam, United Breweries, ACC, Alkem Laboratories, and Abbott India. These companies have experienced significant declines in their share prices in recent months, with some falling by as much as 18% over the past month.