ONGC, NTPC, BDL, BEL, IOC among 13 CPSE stocks to hit 52-week lows on Thurs
Oil and Natural Gas is in focus in a defence development.
· Business Standard Mkts
Power Grid, NMDC, IREDA, IRFC, RCF, RVNL, SJVN and Mazagon Dock Shipbuilders hit 52-week lows on the BSE in Thursday's intraday deals.
The analysis
Against that, the stock is -0.9% on the day at ₹219.89, and has returned -11.0% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -0.0% over the same period, so Oil and Natural Gas is running 11.0 points behind its peers.
With Oil and Natural Gas, NTPC and Indian Oil all implicated, this reads as a Oil & Energy-level move rather than a company-specific one, which is the more durable kind of signal.
Why it matters
- Defence orders carry long execution tails and policy tailwinds, which the market values for their visibility.
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- It touches several names at once (ONGC, NTPC, IOC, POWERGRID), which points to a sector-level rather than company-specific driver.
- Sector exposure: Oil & Energy, Power, Metals & Mining.
In this story
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