Nifty Smallcap index hits 52-week low; Jet Airways falls 66% since January

Rain Industries, Manpasand Beverages, HCC, Jindal Saw, Sintex Plastic, IFCI, Balrampur Chini Mills, BEML and India Cements have seen their market cap erode between 50% and 80% from January 15 levels.

Shares of smallcap companies continued to be under pressure with the Nifty Smallcap 100 index hitting a 52-week low of 6,926.80 on Thursday after a sharp decline in market values of Jet Airways (India), PVR and Manpasand Beverages.

The index fallen below its previous low of 6938.50 recorded on August 11, 2017 in intra-day trade on the National Stock Exchange (NSE).

At 09:46 am; Nifty Smallcap 100 index was trading 1.3% lower at 6,927 points, as compared to 0.33% decline in the Nifty 50 index at 10,944 points. Since January 15, 2018, from its all-time high levels, the smallcap index tanked 28% against 1.9% rise in the benchmark index.

Out of 100 stocks from the smallcap index, more than half or 57 scrip underperformed the index by falling an over 28%. Only 12 stocks have seen their market price gained during the period.

Jet Airways (India), Rain Industries, Manpasand Beverages, Hindustan Construction Company (HCC), Jindal Saw, Sintex Plastic Technologies, IFCI, Balrampur Chini Mills, BEML and India Cements have seen their market value erosion between 50% and 80% from their January 15 levels.

Anil Dhirubhai Ambani Group (ADAG) companies Reliance Naval and Engineering, Reliance Communications, and public sector banks like Syndicate Bank, Oriental Bank of Commerce and Allahabad Bank from the index were fallen in the range of 43% to 50% during the period.

PVR hit a fresh 52-week low of Rs 1,063, down 4% on the NSE in intra-day trade.  The stock of multiplex company fell 24% in past one week after a Maharashtra minister stated in the Assembly on Friday the government would allow people to carry outside food into cinema theatres.

Jet Airways (India) hit nearly three-year low of Rs 296, down 4%, falling 66% from its 52-week high level of Rs 883 touched on January 5, 2018 on the NSE. The airline company had reported a net loss of Rs 10.40 billion in fourth quarter of FY 2018 on rising costs and sharp fall in other income. In the same period last year, the airline had made a net profit of Rs 5.83 billion.

The brokerage firm Elara Capital expects aviation firms under coverage (IndiGo, SpiceJet and Jet Airways) to report 71% YoY decrease in their cumulative profit after tax due to anticipated lower yields growth of IndiGo and Jet Airways versus rise in fuel cost, while SpiceJet would fully pass-on the increase in fuel cost.

COMPANY	LATEST	52 WK LOW	PREV LOW	PREV DATE
ADVANCE. ENZYME.	200.65	200.05	204.00	18-Jul-18
BEML LTD	758.75	752.70	761.15	16-Jul-18
CENTURY PLY.	228.45	224.00	227.00	18-Jul-18
COCHIN SHIPYARD	425.75	425.75	426.00	06-Jul-18
GODFREY PHILLIPS	674.70	670.95	675.50	18-Jul-18
HIMATSING. SEIDE	269.45	266.50	270.00	18-Jul-18
HIND.COPPER	54.55	53.85	54.55	18-Jul-18
INOX WIND	77.90	77.20	78.45	18-Jul-18
JET AIRWAYS	300.80	296.20	302.50	16-Jul-18
JINDAL SAW	71.00	70.00	70.55	28-Jun-18
MANPASAND BEVER.	119.55	119.55	120.30	17-Jul-18
NATL.FERTILIZER	41.80	41.55	42.30	18-Jul-18
PTC INDIA	70.15	68.95	69.40	17-Jul-18
PVR	1085.05	1062.80	1082.50	18-Jul-18
R C F	66.05	65.45	65.80	05-Jun-18
S H KELKAR & CO.	205.65	205.10	206.05	16-Jul-18
SINTEX PLASTICS	32.40	32.05	32.60	17-Jul-18
VA TECH WABAG	362.00	353.65	354.40	18-Jul-18