BSE Smallcap index falls over 1%; PVR, Inox Leisure tank up to 14%

46 stocks including Den Networks, Tejas Networks, Oriental Bank, Kwality, Kajaria Ceramics, JBF Industries, Andhra Bank, Dena Bank and Balalji Telefims from the BSE Smallcap index have hit 52-week low

Shares of smallcap companies were under pressure with the S&P BSE Smallcap index falling more than 1% after a sharp decline in stock prices of PVR, KNR Constructions, Inox Leisure and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC).

At 02:43 PM; the S&P BSE Smallcap index, the largest loser among broader indices, was down 1.3% or 215 points at 16,205. On comparison, the S&P BSE Sensex was trading 0.07% higher at 36,567 points.

The stocks of multiplex operator Inox Leisure  (down 14% at Rs 217) and PVR (down 12% at Rs 1,224) have plunged more than 10% in intra-day trade after media reports suggested that  Maharashtra minister raised a voice to act against multiplexes if they don't allow people to carry their own food inside the cinema halls.

The Maharashtra government has now allowed food inside movie theatres, from August 1, prices of food products will also reduce.

The government will hold meetings with multiplex owners and reduce prices as per market price, the TV channel report suggested. The move could hurt multiplexes operator.

Meanwhile, as many as 46 stocks include Den Networks, Tejas Networks, Oriental Bank of Commerce, Kwality, Kajaria Ceramics, JBF Industries, Andhra Bank, Dena Bank and Balalji Telefims from the BSE Smallcap index have hit their respective 52-week lows today.

Den Networks has slipped 11% to Rs 52 in intra-day trade, falling 30% in past seven trading sessions, after the Reliance Industries’s (RIL) chairman Mukesh Ambani announced the launch of Jio’s fibre to home or fixed line broadband services called Jio GigaFiber. The launch of the home broadband services is expected to intensify competition for both the direct-to-home as well as cable broadband providers.

COMPANY	LATEST	PREV CLOSE	LOSS(%)
PVR	1232.00	1397.20	-11.82
SRI ADHIK. BROS.	7.40	8.20	-9.76
INOX LEISURE	228.75	252.40	-9.37
3I INFOTECH	3.72	4.06	-8.37
G N F C	414.45	451.25	-8.16
KARNATAKA BANK	114.40	124.25	-7.93
SHREE RAMA NEWS.	26.70	28.70	-6.97
ANSAL PROPERTIES	15.60	16.75	-6.87
BLS INTERNAT.	169.60	181.90	-6.76
NCC	90.60	97.15	-6.74
UJAAS ENERGY	10.90	11.67	-6.60
KNR CONSTRUCT.	217.30	232.20	-6.42
JVL AGRO INDUS	10.09	10.78	-6.40
ENGINEERS INDIA	121.35	129.25	-6.11
MADHUCON PROJ.	10.80	11.49	-6.01
NITCO	66.00	70.20	-5.98
CYIENT	698.00	742.00	-5.93
PG ELECTRO.	201.85	214.35	-5.83
SOBHA	458.20	485.45	-5.61
AKSHARCHEM (I)	528.55	559.70	-5.57