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Shares of Amber Enterprises hit a 52-week low after declining for the fourth straight day. Shares are recovering from the day's low.

The stock has declined over 40 percent during the last 12 months.

Amber Enterprises India Limited is an original equipment manufacturer in the heating and ventilation industry. It manufactures and supplies refrigerators, heat exchangers, air conditioners, home appliances, vacuum forming, and lighting products.

The company recently posted a consolidated loss of Rs 2.98 crore for the September quarter compared to a net profit of Rs 7.43 crore in the same quarter a year ago.

ICICI Prudential Life recently offloaded 1.83 lakh shares or 0.54 percent stake in the company at an average price of Rs 2,284.54 on October 12. On the other hand, brokerage ICICI Direct has maintained its hold rating on the stock with a price target of Rs 2,395.

Shares of Amber Enterprises made a 52-week low of Rs 1,971 in intraday trade before recovering.

(Edited by : Rukmani Krishna)