Nykaa, Policybazaar, Tega among 11 recently listed shares to hit new lows

FSN E-Commerce Ventures (Nykaa), PB Fintech, the parent company of Policybazaar, Tega Industries, Tarsons Products and Aditya Birla AMC were among 11 stocks from the BSE IPO index hit new lows.

Shares of recently listed companies were under pressure with the S&P BSE IPO index down as much as 4 per cent on the BSE in Monday’s intra-day trade after a sharp correction in these stocks on profit booking.

FSN E-Commerce Ventures, more commonly known as Nykaa, PB Fintech, the parent company of Policybazaar, Tega Industries, Tarsons Products, Aditya Birla Sun Life AMC, SJS Enterprises, Indigo Paints, Anand Rathi Wealth and Glenmark Lifesciences were among 11 stocks from the BSE IPO index to hit their respective lows since listing.

At 10:44 am; the S&P BSE IPO index, top loser among indices, was down 3.7 per cent at 11,867 points on the BSE. In comparison, the S&P BSE Sensex was down 2.08 per cent at 55,826. The IPO index tanked 4.26 per cent in intra-day trade today.  With today’s correction, it slipped 14 per cent from its record high level of 13,747 hit on November 25, 2021.

Sona BLW Precision Forgings, Aditya Birla Sun Life AMC, Macrotech Developers (Lodha), Craftsman Automation, Easy Trip Planners, Barbeque-Nation Hospitality, Indigo Paints, Krishna Institute of Medical Sciences (KIMS), Vijaya Diagnostic Centre and MTAR Technologies among those from the index were down in the range of 4 per cent to 6 per cent.

Among the individual, shares of Aditya Birla Sun Life hit a new low of Rs 517.25, slipped 6 per cent in intra-day. The stock was quoting lower for the seventh straight trading days, fallen 13 per cent during the same period. It was quoting at its lowest level since its listing on October 11, 2021. Currently, it was trading 27 per cent below its issue price of Rs 712 per share.

The retail participation and inflows into mutual funds and other market-linked products are heavily influenced by market performance and sentiment. Any downturn or volatility could make investors shy away from market-linked products and push them towards less-riskier assets.

"Investors have been gradually shifting from physical assets to financial assets. Additionally, they have also been reallocating their savings to mutual funds in recent years. However the overall mutual fund penetration in the country remains low. In addition, insurance products such as unit-linked investment products, which provide dual benefits of protection and long-term savings, are competing for market share," HDFC Securities had said in an IPO note.

Shares of Indigo Paints dipped nearly 5 per cent to Rs 1,940, falling 16 per cent in past one month after the company Paints reported a disappointing set of numbers for quarter ended September 2021 (Q2FY22) mainly in margin front.

The stock corrected 42 per cent from its 52-week high level of Rs 3,348 touched on February 3, 2021. It was trading at its lowest level since its market debut on February 2, 2021. Indigo Paints had raised funds by issuing shares at price of Rs 1,490.

For Q2FY22, the company’s earnings before interest, taxes, depreciation, and amortization (ebitda) margin contracted 586 basis points to 12.92 per cent due to extremely high inflation in raw material prices. Profit after tax (PAT) declined 28 per cent year on year (YoY) to Rs 11.61 crore from Rs 18.81 crore. However, during the quarter, despite delayed monsoon withdrawal and heavy rainfall witnessed by the country in September, the company's revenue has grown by 26.65 per cent YoY at Rs 196 crore.

Due to unprecedented escalation in the price of raw materials, the entire industry is witnessing a steep contraction in the gross margins and Indigo Paints was also adversely affected. However, due to proactive price increases, the effect on Indigo Paints was relative lower and the Company closed the quarter with an industry leading gross margin of 41.72 per cent, Indigo Paints said.

COMPANY	LATEST	ALL TIME LOW	PREV LOW	PREV DATE
Aditya AMC	516.80	516.80	545.10	17-Dec-21
Anand Rathi Wea.	553.45	552.00	564.10	17-Dec-21
FSN E-Commerce	1987.45	1959.00	1980.90	14-Dec-21
Glenmark Life	594.10	592.40	600.00	23-Nov-21
Indigo Paints	1940.05	1940.00	2014.25	17-Dec-21
PB Fintech.	1024.55	1023.00	1070.00	17-Dec-21
SJS Enterprises	366.85	351.00	379.40	17-Dec-21
Tarsons Products	610.10	605.50	607.50	07-Dec-21
Tega Inds.	573.35	570.60	592.60	16-Dec-21
Vijaya Diagnost.	520.65	517.50	533.65	14-Sep-21
Windlas Biotech	264.55	260.15	273.50	17-Dec-21