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In the domestic markets, Sensex and Nifty were down 4.15% and 4.48%, respectively, for the past week. Having breached the lows of the year 2011 a couple of weeks ago, the Nifty has further slipped over fears of another rate hike by the Reserve Bank of India (RBI) in its Sept 16th policy meeting.

With inflation at 9.22% (m-o-m), there are growing concerns that the RBI could go for another rate hike of 25 basis points in its next policy meeting. This can affect the credit growth of banks as companies could postpone their capex plans further, thereby impacting the banking sector as well as capital-intensive companies.

Banking stocks bore the brunt of these concerns and the BSE Banking index dropped 7.5% for the week. Similarly, the effect of concerns on Europe debt and the US economy saw the BSE IT index slipped 5.3% for the week.

The following is the list of 10 stocks which have hit their 52-week low this past week.

1) Infosys Technologies
Technology major, Infosys Ltd, slipped to its 52-week low on Friday while the 10-member BSE IT index tumbled 4.4% to 4804.87. The BSE IT Index lost about a fifth of its value in about a month since the debate about US defaulting on debt intensified.
3) Tata Motors Ltd
Shares in Tata Motors Ltd touched their 52-week low of Rs 703.25 on the Bombay stock Exchange while for the year the scrip has plunged over 40%. It has corrected nearly 11% in this past week. The stock has been under some pressure recently. The net profit of the company stood flat at Rs 2,000 crore (10.2% lower than estimates), led by margin pressures, high interest cost as well as higher tax rate particularly at JLR.

According to a recent data, Tata Motors said its global sales stood at 85,392 units in July, down six per cent as compared to the same month last year. Sales of luxury brands from Jaguar Land Rover were flat at 19,119 vehicles in July, Tata Motors said in a statement.

On Friday, (19th August, 2011), Goldman Sachs has cuts the target price of Tata Motors to Rs 774 from Rs 1,073 citing lower revenue growth outlook amid high local interest rates and global uncertainties.

"We are revising our FY12-14E EPS (earnings per share) estimates on Tata Motors by 12-14 percent mainly on lower revenue assumptions," the Wall Street bank said in a note on Friday.
India's showcase $76 billion software and services sector, which has already been reeling under competitive pressure and sluggish demand, gets more than three-fourths of its revenue from overseas countries like United States and Europe which are at the top of the list.
IT stocks in general have been penalized post the US credit rating downgrade with fears of possible slowdown hurting the Indian IT demand environment. And most of us now have started comparing the present scenario with the post-Lehman downfall in 2008.

Shares in Infosys Ltd touched their 52-week low of Rs 2,172.6 on BSE, before recovering to close at Rs 2,225.40. For the year the stock has tumbled over 20 per cent.

The annual analyst day of Infosys highlighted the management maintaining its cautious stance on the current macro environment owing to the elevated levels of uncertainties in the USA and the euro zone.

In the near term, macro headwinds are likely to continue to make headlines, which could possibly result in further correction in the stock price going forward.

2) State Bank of India
Country's largest bank, State Bank of India has slipped to its 52-week low of Rs 2,026.10 on Friday (19th August, 2011) on Bombay Stock Exchange.

The BSE Banking index slipped nearly 20% for the year. The index saw recent correction on the back of deepening worries about a slowdown of the global economy and a possible return of the recession in the US.

On Friday (19th August, 2011), Credit Suisse has cut its target price of the State Bank of India to Rs 2,180 from Rs 2,483.07, but has maintained its 'NEUTRAL' rating on the stock as it expects profitability to continue to be under pressure for the country's largest lender.

"Post 1Q earnings miss and a slowdown in fees, higher tax rate and treasury loss, we reduce our FY12 and FY13 earnings per share estimate by 13 percent and 4 percent respectively," Credit Suisse said in a note on Friday.
10 blue-chip stocks at 52-week low
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4) Tata Power Company Ltd.
The leading power utility company, Tata Power, slipped to its 52-week low of Rs 1,021 on the Bombay Stock Exchange on Friday. The stock has dropped over 20% so far in this year.

Although the company posted a 5% rise in profit after tax at Rs 281.56 crore in the first three months of current fiscal, the stock has plunged nearly 11% post its quarterly results that were declared on 10th August.

5) ICICI Bank Ltd
ICICI Bank Ltd, the nation's second largest bank, slipped to its 52-week low of Rs 825 on the Bombay Stock Exchange while for the year the stock has plunged over 27%.

6) Reliance Industries
The oil and petrochemicals giant, Reliance Industries Ltd, slipped to its 52-week low of Rs 721.60 on Friday, while for the year the stock has dropped by over 30%.
The stock has been declining since past few days on account of general decline in the Indian stock market. Lower-than-expected production from KG basin has been another overhang on the stock.
7) JSW Steel Ltd
Shares in JSW Steel Ltd hit their 52-week low of Rs 623.80 on the Bombay Stock Exchange while for the year the stock has plunged over 40%.
JSW Steel Ltd has declined on account of mining mess in Karnataka. Low availability of ore for running its blast furnace and higher costs of raw material would remain as a concern for the time being".

8) Tata Steel Ltd
Shares in Tata Steel Ltd hit their 52-week low of Rs 450.25 on the Bombay Stock Exchange while for the year the stock has plunged over 30%.

9) HCL Technologies Ltd
Shares in HCL Technologies have hit their 52-week low of Rs 365.75 on Friday on the Bombay Stock Exchange while for the year the stock has plunged by 14%.
The BSE IT Index lost about a fifth of its value in about a month since the debate about US defaulting on debt intensified.
IT stocks in general have been penalized post the US credit rating downgrade with fears of possible slowdown hurting the Indian IT demand environment. And most of us now have started comparing the present scenario with the post-Lehman downfall in 2008.

10) Wipro Ltd
Shares in Wipro Ltd have hit their 52-week low of Rs 310.20 on Friday on the Bombay Stock Exchange while for the year the stock has plunged over 30%.