 "83 BSE 500 stocks down over 50% from 52-week highs")
About one out of five stocks from the BSE500 index are now trading more than 50% discounts to their 52-week highs, following an over 10% fall in the benchmark BSE Sensex over the past one-and-half months.
A total of 83 stocks from the BSE-500 are currently available at more than 50 per cent below their 52-week highs on the BSE exchange.
At 02:12 PM, the S&P BSE Sensex was trading at 22,959 points, correcting 3,159 points, or 12%, from 26,118 on December 31, 2015, on the back of global sell-off. The index touched a fresh 52-week low of 22,600 in intra-day trade by the concerns over state of global economy. The benchmark index was down 23% from a record closing high of 29,594 on March 3.
Unitech, Tree House Education and Accessories, Amtek Auto and Castex Technologies tanked over 80%, while Eros International Media, Jaiprakash Associates, Jindal Steel & Power, Vedanta, Aban Offshore, Just Dial, IL&FS Transportation Network and Oriental Bank of Commerce plunged over 70% from their 52-week highs.
The market value of most of the public sector banks have been more than halved as investor sentiment was hit by mounting bad loans and disappointing earnings reported by them. The list includes Bank of India, Allahabad Bank, Canara Bank, Uco Bank and Indian Bank.
CRISIL, the research firm believes intensifying asset quality problems at public sector banks (PSBs) have the potential to impair their credit risk profiles and necessitate significantly higher capitalisation of PSBs either through government infusion or relaxation of regulatory capital norms.
“We believe the government will have to step in and provide more capital than what was committed under the Indradhanush plan and we will be looking out for government announcements for such measures, including in the upcoming Union Budget. If that doesn’t happen, CRISIL’s threshold of ‘high safety category’ for PSBs could get lowered,” the research firm said in release dated February 10, 2016.
Wockhardt, Bharat Heavy Electricals Limited (BHEL), Hindalco Industries, Suzlon Energy, Rural Electrification Corporation, Cairn India, DLF, Power Finance Corporation and Adani Ports and Special Economic Zone were down between 50%-70% below their one-year highs.
Thus far in the current calendar year 2016, foreign institutional investors (FIIs) have sold nearly $2 billion or Rs 13,275 crore worth of equities, according to Sebi (NSDL) data.
A total of 83 stocks from the BSE-500 are currently available at more than 50 per cent below their 52-week highs on the BSE exchange.
At 02:12 PM, the S&P BSE Sensex was trading at 22,959 points, correcting 3,159 points, or 12%, from 26,118 on December 31, 2015, on the back of global sell-off. The index touched a fresh 52-week low of 22,600 in intra-day trade by the concerns over state of global economy. The benchmark index was down 23% from a record closing high of 29,594 on March 3.
Unitech, Tree House Education and Accessories, Amtek Auto and Castex Technologies tanked over 80%, while Eros International Media, Jaiprakash Associates, Jindal Steel & Power, Vedanta, Aban Offshore, Just Dial, IL&FS Transportation Network and Oriental Bank of Commerce plunged over 70% from their 52-week highs.
The market value of most of the public sector banks have been more than halved as investor sentiment was hit by mounting bad loans and disappointing earnings reported by them. The list includes Bank of India, Allahabad Bank, Canara Bank, Uco Bank and Indian Bank.
CRISIL, the research firm believes intensifying asset quality problems at public sector banks (PSBs) have the potential to impair their credit risk profiles and necessitate significantly higher capitalisation of PSBs either through government infusion or relaxation of regulatory capital norms.
“We believe the government will have to step in and provide more capital than what was committed under the Indradhanush plan and we will be looking out for government announcements for such measures, including in the upcoming Union Budget. If that doesn’t happen, CRISIL’s threshold of ‘high safety category’ for PSBs could get lowered,” the research firm said in release dated February 10, 2016.
Wockhardt, Bharat Heavy Electricals Limited (BHEL), Hindalco Industries, Suzlon Energy, Rural Electrification Corporation, Cairn India, DLF, Power Finance Corporation and Adani Ports and Special Economic Zone were down between 50%-70% below their one-year highs.
Thus far in the current calendar year 2016, foreign institutional investors (FIIs) have sold nearly $2 billion or Rs 13,275 crore worth of equities, according to Sebi (NSDL) data.
| Name | LTP | high_52week | % chg | low_52week |
| CASTEX TECHNOLOGIES LTD | 7.58 | 362.00 | -97.91 | 7.09 |
| ADANI ENTERPRISES LTD | 64.65 | 574.25 | -88.74 | 61.70 |
| AMTEK AUTO LTD | 27.80 | 176.10 | -84.21 | 25.60 |
| UNITECH LTD | 3.99 | 22.75 | -82.46 | 3.43 |
| TREE HOUSE EDUCATION AND ACC | 108.30 | 548.00 | -80.24 | 105.70 |
| EROS INTERNATIONAL MEDIA LTD | 151.60 | 644.40 | -76.47 | 145.05 |
| JAIPRAKASH ASSOCIATES LTD | 7.20 | 29.40 | -75.51 | 6.45 |
| JINDAL STEEL & POWER LTD | 55.05 | 208.00 | -73.53 | 48.20 |
| VEDANTA LTD | 62.60 | 233.45 | -73.18 | 58.10 |
| ABAN OFFSHORE LTD | 148.05 | 519.50 | -71.50 | 142.50 |
| JUST DIAL LTD | 429.50 | 1469.00 | -70.76 | 377.65 |
| IL&FS TRANSPORTATION NETWORK | 66.50 | 223.40 | -70.23 | 65.00 |
| ORIENTAL BANK OF COMMERCE | 82.20 | 265.00 | -68.98 | 78.10 |
| KAVERI SEED CO LTD | 340.80 | 1077.00 | -68.36 | 300.00 |
| BHUSHAN STEEL LTD | 33.70 | 103.30 | -67.38 | 32.50 |
| BANK OF INDIA | 83.15 | 250.00 | -66.74 | 80.25 |
| ROLTA INDIA LTD | 69.85 | 196.80 | -64.51 | 67.60 |
| KITEX GARMENTS LTD | 380.20 | 1070.00 | -64.47 | 364.45 |
| BHARAT HEAVY ELECTRICALS | 103.30 | 289.85 | -64.36 | 102.40 |
| ALLAHABAD BANK | 41.35 | 115.90 | -64.32 | 39.50 |
| CLARIS LIFESCIENCES LTD | 131.20 | 358.00 | -63.35 | 126.10 |
| CANARA BANK | 166.10 | 451.20 | -63.19 | 161.15 |
| TATA SPONGE IRON LTD | 348.55 | 942.00 | -63.00 | 340.00 |
| GATI LTD | 99.55 | 264.10 | -62.31 | 94.60 |
| WOCKHARDT LTD | 754.50 | 2000.00 | -62.28 | 706.35 |
| HINDALCO INDUSTRIES LTD | 61.10 | 161.70 | -62.21 | 58.85 |
| UCO BANK | 29.25 | 77.00 | -62.01 | 28.10 |
| DYNAMATIC TECHNOLOGIES LTD | 1635.70 | 4225.00 | -61.29 | 1546.00 |
| DEN NETWORKS LTD | 65.85 | 169.00 | -61.04 | 62.70 |
| ASHIANA HOUSING LTD | 127.55 | 327.30 | -61.03 | 124.05 |
| JAIPRAKASH POWER VENTURES LT | 5.14 | 12.95 | -60.31 | 4.95 |
| GLOBAL OFFSHORE SERVICES LTD | 339.05 | 849.00 | -60.06 | 273.45 |
| ALOK INDUSTRIES LTD | 4.05 | 10.08 | -59.82 | 3.81 |
| GUJARAT MINERAL DEV CORP LTD | 53.35 | 132.00 | -59.58 | 52.35 |
| HOUSING DEVELOPMENT & INFRAS | 58.30 | 143.00 | -59.23 | 54.25 |
| PUNJAB NATIONAL BANK | 73.75 | 180.50 | -59.14 | 72.60 |
| SYNDICATE BANK | 52.50 | 127.50 | -58.82 | 49.70 |
| IDFC LTD | 37.85 | 91.72 | -58.73 | 34.80 |
| VAIBHAV GLOBAL LTD | 345.00 | 836.00 | -58.73 | 323.20 |
| ADANI POWER LTD | 24.80 | 60.00 | -58.67 | 19.65 |
| IFB INDUSTRIES LTD | 309.30 | 746.00 | -58.54 | 296.75 |
| JAYPEE INFRATECH LTD | 8.97 | 21.60 | -58.47 | 8.50 |
| INDIAN BANK | 81.90 | 196.00 | -58.21 | 77.00 |
| MARKSANS PHARMA LTD | 48.35 | 115.00 | -57.96 | 41.45 |
| INDIAN OVERSEAS BANK | 21.75 | 51.40 | -57.68 | 21.10 |
| HINDUSTAN CONSTRUCTION CO | 17.40 | 40.90 | -57.46 | 16.35 |
| CENTRAL BANK OF INDIA | 51.50 | 121.00 | -57.44 | 49.90 |
| JINDAL SAW LTD | 37.00 | 86.15 | -57.05 | 36.05 |
| SUN PHARMA ADVANCED RESEARCH | 257.00 | 598.00 | -57.02 | 249.75 |
| SE INVESTMENTS LTD | 185.00 | 430.40 | -57.02 | 165.20 |
| KSK ENERGY VENTURES LTD | 40.00 | 92.80 | -56.90 | 29.20 |
| SUZLON ENERGY LTD | 13.55 | 31.35 | -56.78 | 12.80 |
| BOMBAY DYEING & MFG CO LTD | 40.90 | 94.00 | -56.49 | 40.00 |
| RURAL ELECTRIFICATION CORP | 161.45 | 371.05 | -56.49 | 157.25 |
| STEEL AUTHORITY OF INDIA | 34.50 | 78.95 | -56.30 | 33.50 |
| CAIRN INDIA LTD | 116.60 | 262.50 | -55.58 | 106.60 |
| SML ISUZU LTD | 743.85 | 1670.00 | -55.46 | 736.00 |
| UNITED BANK OF INDIA | 17.40 | 38.90 | -55.27 | 16.80 |
| PTC INDIA FINANCIAL SERVICES | 29.95 | 66.70 | -55.10 | 29.75 |
| DB REALTY LTD | 40.70 | 90.45 | -55.00 | 38.50 |
| PRISM CEMENT LTD | 60.20 | 133.60 | -54.94 | 55.55 |
| BF UTILITIES LTD | 410.00 | 890.00 | -53.93 | 389.85 |
| RAMKRISHNA FORGINGS LTD | 360.00 | 779.50 | -53.82 | 320.00 |
| POWER FINANCE CORPORATION | 145.40 | 313.05 | -53.55 | 141.45 |
| COX AND KINGS LTD | 160.20 | 343.90 | -53.42 | 150.70 |
| DLF LTD | 79.50 | 169.15 | -53.00 | 72.50 |
| SIMPLEX INFRASTRUCTURES LTD | 239.30 | 508.00 | -52.89 | 230.00 |
| DENA BANK | 27.65 | 58.30 | -52.57 | 26.40 |
| ANDHRA BANK | 43.50 | 90.80 | -52.09 | 41.75 |
| HCL INFOSYSTEMS LTD | 32.00 | 66.75 | -52.06 | 30.30 |
| DCB BANK LTD | 72.65 | 150.90 | -51.86 | 68.50 |
| JUBILANT FOODWORKS LTD | 961.10 | 1984.00 | -51.56 | 896.65 |
| ADANI PORTS AND SPECIAL ECON | 182.05 | 374.70 | -51.41 | 169.65 |
| RASHTRIYA CHEMICALS & FERT | 36.45 | 74.75 | -51.24 | 35.25 |
| SINTEX INDUSTRIES LTD | 66.70 | 136.40 | -51.10 | 63.50 |
| SOBHA LTD | 247.00 | 504.50 | -51.04 | 244.20 |
| STATE BANK OF INDIA | 154.70 | 315.80 | -51.01 | 148.30 |
| INOX WIND LTD | 244.95 | 494.70 | -50.49 | 237.10 |
| PURAVANKARA PROJECTS LTD | 43.50 | 87.75 | -50.43 | 42.10 |
| RALLIS INDIA LTD | 148.00 | 298.50 | -50.42 | 142.00 |
| TATA MOTORS LTD | 295.80 | 594.13 | -50.21 | 266.00 |
| KPIT TECHNOLOGIES LTD | 113.00 | 226.80 | -50.18 | 85.05 |
| NCC LTD | 59.10 | 118.20 | -50.00 | 53.45 |
| LTP - Last traded price on BSE in Rs at 02:12 PM | ||||
| Source : Bloomberg | ||||