PNB, HPCL, Idea, Bharti Infratel, HDIL, Reliance Naval hit 52-week lows

Punjab National Bank, Hindustan Petroleum Corporation Limited (HPCL), Idea Cellular, Housing Development & Infrastructures (HDIL), Reliance Naval and Engineering and Bharti Infratel were among 14 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the market on Thursday.
Sugar stocks such as Bajaj Hindustan, Balrampur Chini Mills and EID Parry, Lakshmi Vilas Bank, Power Finance Corporation, S H Kelkar & Co, Somany Ceramics and Vakrangee too hit 52-week lows today. On comparison, the S&P BSE Sensex was up 0.11% at 34,541 at 12:00 pm.

Reliance Naval hit a new low of Rs 18.55, down 18%, extending its past one week’s 22% fall, after the company reported widening of its net loss to Rs 4,087 million in January-March quarter of 2017-18 fiscal year from Rs 1,399 million net loss in the same period of previous financial year. For the full year 2017-18, it posted a net loss of Rs 9,561 million as compared to a loss of Rs 5,234 million in previous year.

Auditors of Anil Ambani-led Reliance Naval and Engineering have raised doubts about the company's ability to "continue as a going concern".