 "161 smallcaps down over 20% in two weeks")
As many as 161 stocks from the BSE smallcap index have seen one-fifth value erosion in their respective market values after the government’s demonetization drive.
Of these, 25 stocks were down more than 30% each after the government on November 8 withdrew Rs 500 and Rs 1000 notes as legal tender and introduced the new Rs 500 and Rs 2000 notes.
Manappuram Finance, Sunil Hitech, Diamond Power, Steel Exchange India, Sunteck Realty, Delta Corp, Anant Raj Industries, Shailmar Paints, Kiri Industries, Century Textiles and JM Financial Services are among few down an over 30%.
In past two-weeks, the S&P BSE Smallcap index underperformed the market by falling 12% as compared to 9.4% decline in S&P BSE Midcap index and 6.4% fall in the benchmark S&P BSE Sensex.
The smallcap index had a strong run-up after the Budget. Since March, it rallied 37% against 35% surge in midcap index and 20% rise in the Sensex.
The real estate, non-banking finance company (NBFC), microfinance institutions (MFIs), cements and consumer durable stocks were hit hard during the period on growth concerns.
The commodities and agricultural sector including the market for consumer durables and non-durables is expected to feel the heat. The real estate sector is likely to see a significant negative impact in the medium-to-long term particularly in the repurchase market, the Business Standard report suggests.
Of these, 25 stocks were down more than 30% each after the government on November 8 withdrew Rs 500 and Rs 1000 notes as legal tender and introduced the new Rs 500 and Rs 2000 notes.
Manappuram Finance, Sunil Hitech, Diamond Power, Steel Exchange India, Sunteck Realty, Delta Corp, Anant Raj Industries, Shailmar Paints, Kiri Industries, Century Textiles and JM Financial Services are among few down an over 30%.
In past two-weeks, the S&P BSE Smallcap index underperformed the market by falling 12% as compared to 9.4% decline in S&P BSE Midcap index and 6.4% fall in the benchmark S&P BSE Sensex.
The smallcap index had a strong run-up after the Budget. Since March, it rallied 37% against 35% surge in midcap index and 20% rise in the Sensex.
The real estate, non-banking finance company (NBFC), microfinance institutions (MFIs), cements and consumer durable stocks were hit hard during the period on growth concerns.
The commodities and agricultural sector including the market for consumer durables and non-durables is expected to feel the heat. The real estate sector is likely to see a significant negative impact in the medium-to-long term particularly in the repurchase market, the Business Standard report suggests.
| Company | 29/02/2016 | 08/11/2016 | % chg | LTP | % chg |
| Sunil Hitech | 201.30 | 334.10 | 66.0 | 175.40 | -47.5 |
| Diamond Power | 24.80 | 48.35 | 95.0 | 28.00 | -42.1 |
| Steel Exchange | 28.00 | 79.20 | 182.9 | 50.00 | -36.9 |
| Sunteck Realty | 191.75 | 275.50 | 43.7 | 176.40 | -36.0 |
| AXISCADES Engg. | 187.20 | 207.95 | 11.1 | 135.70 | -34.7 |
| Vipul Ltd | 45.90 | 88.10 | 91.9 | 57.50 | -34.7 |
| JM Financial | 35.85 | 87.05 | 142.8 | 56.95 | -34.6 |
| Delta Corp | 49.60 | 162.35 | 227.3 | 106.30 | -34.5 |
| Anant Raj | 28.55 | 50.10 | 75.5 | 33.05 | -34.0 |
| Shalimar Paints | 105.20 | 186.20 | 77.0 | 125.65 | -32.5 |
| Kiri Indus. | 75.50 | 350.10 | 363.7 | 237.00 | -32.3 |
| Ajmera Realty | 110.90 | 147.95 | 33.4 | 100.65 | -32.0 |
| Asian Granito | 129.90 | 260.55 | 100.6 | 178.35 | -31.5 |
| Manappuram Fin. | 30.20 | 102.80 | 240.4 | 70.45 | -31.5 |
| Capital First | 353.95 | 689.40 | 94.8 | 473.00 | -31.4 |
| I G Petrochems | 82.10 | 276.15 | 236.4 | 191.65 | -30.6 |
| Binani Inds | 52.15 | 94.45 | 81.1 | 65.60 | -30.5 |
| Prozone Intu | 24.90 | 42.00 | 68.7 | 29.30 | -30.2 |
| Century Textiles | 419.50 | 976.65 | 132.8 | 681.35 | -30.2 |
| Godfrey Phillips | 1075.90 | 1343.00 | 24.8 | 938.75 | -30.1 |
| LTP: Last traded price on BSE in Rs at 12:29 pm | |||||