 "34 stocks hit 6-month lows")
Asian Paints, Aurobindo Pharma, Ujjivan Financial Services, Emami, GIC Housing Finance, Dabur India, Pidilite India and Shriram Transport Finance were among 34 stocks from the BSE500 index were trading at their respective 6-month lows on the BSE.
Mahindra & Mahindra Financial Services, Crompton Greaves, Fag Bearings, Thermax, Wockhardt, Indoco Remedies, eClerx Services and Coffee Day Enterprises too hit 6-month lows on Thursday.
Since November 9, post government's demonetisation decision, most of these stocks have fallen in the range of 10% to 33% on the back of heavy foreign portfolio investors (FPIs) selling.
FPIs have already pulled out equities worth $3.08 billion (Rs 20,914 crore) between November 9 and December 21, according to the data available with National Securities Depository Limited (NSDL) suggested.
The consumption related and non-banking finance companies (NBFC) stocks were hit badly during the period.
According Religare Institutional Research, poor demand and low price inflation have weighed on the Indian consumer sector over the last two years.
“Additional headwinds from demonetisation and likely GST (in FY18) could have a lasting disruptive impact on the indirect distribution value chain. With recovery likely to be pushed back to H2FY18 and big-ticket discretionary spends (jewellery, paints) set to be badly hit, we expect muted growth for the industry in FY17,” the brokerage firm said sector update.
BF Utilities, Blue Dart Express, Gujarat Pipavav Port, Jindal Polyfilms, Jubilant FoodWorks, Just Dial and Network18 Media & Investments are among few stocks that touch 52-week lows on Friday.
At 10:37 am; the S&P BSE Sensex was trading at 25,908, down 6% from the November 8, 2016 closing level of 27,591.
Mahindra & Mahindra Financial Services, Crompton Greaves, Fag Bearings, Thermax, Wockhardt, Indoco Remedies, eClerx Services and Coffee Day Enterprises too hit 6-month lows on Thursday.
Since November 9, post government's demonetisation decision, most of these stocks have fallen in the range of 10% to 33% on the back of heavy foreign portfolio investors (FPIs) selling.
FPIs have already pulled out equities worth $3.08 billion (Rs 20,914 crore) between November 9 and December 21, according to the data available with National Securities Depository Limited (NSDL) suggested.
The consumption related and non-banking finance companies (NBFC) stocks were hit badly during the period.
According Religare Institutional Research, poor demand and low price inflation have weighed on the Indian consumer sector over the last two years.
“Additional headwinds from demonetisation and likely GST (in FY18) could have a lasting disruptive impact on the indirect distribution value chain. With recovery likely to be pushed back to H2FY18 and big-ticket discretionary spends (jewellery, paints) set to be badly hit, we expect muted growth for the industry in FY17,” the brokerage firm said sector update.
BF Utilities, Blue Dart Express, Gujarat Pipavav Port, Jindal Polyfilms, Jubilant FoodWorks, Just Dial and Network18 Media & Investments are among few stocks that touch 52-week lows on Friday.
At 10:37 am; the S&P BSE Sensex was trading at 25,908, down 6% from the November 8, 2016 closing level of 27,591.
| Price on BSE in Rs | ||||
| Company | 6-mth low | 08/11/2016 | 22/12/2016 | % chg |
| Ujjivan Fin.Ser. | 291.00 | 436.00 | 293.00 | -32.8 |
| Century Ply. | 154.50 | 227.55 | 155.20 | -31.8 |
| Crompton Greaves | 56.80 | 82.95 | 57.25 | -31.0 |
| Yamini Invest | 21.00 | 33.00 | 23.90 | -27.6 |
| Unitech | 4.06 | 5.69 | 4.15 | -27.1 |
| M & M Fin. Serv. | 247.00 | 345.90 | 253.65 | -26.7 |
| Shriram Trans. | 787.80 | 1054.85 | 790.90 | -25.0 |
| BF Utilities | 388.90 | 511.40 | 390.95 | -23.6 |
| Westlife Develop | 152.00 | 195.10 | 154.05 | -21.0 |
| SML ISUZU | 1016.00 | 1284.80 | 1022.75 | -20.4 |
| GIC Housing Fin | 250.90 | 322.70 | 257.65 | -20.2 |
| Emami | 950.10 | 1166.80 | 955.90 | -18.1 |
| 3M India | 10350.00 | 12800.30 | 10494.75 | -18.0 |
| Netwrk.18 Media | 32.80 | 40.10 | 32.95 | -17.8 |
| Asian Paints | 850.10 | 1056.50 | 869.55 | -17.7 |
| Rattanindia Pow. | 6.65 | 8.18 | 6.74 | -17.6 |
| Wockhardt | 655.50 | 804.30 | 663.55 | -17.5 |
| Jubilant Food. | 801.40 | 974.45 | 810.60 | -16.8 |
| Thomas Cook (I) | 182.00 | 215.30 | 182.25 | -15.4 |
| Akzo Nobel | 1356.00 | 1613.80 | 1369.40 | -15.1 |
| Blue Dart Exp. | 4337.55 | 5095.00 | 4342.65 | -14.8 |
| Pidilite Inds. | 582.50 | 691.60 | 594.20 | -14.1 |
| Just Dial | 339.00 | 394.00 | 341.95 | -13.2 |
| Aurobindo Pharma | 656.10 | 756.75 | 658.30 | -13.0 |
| Mcleod Russel | 142.45 | 163.55 | 143.15 | -12.5 |
| Coffee Day Enter | 195.00 | 223.45 | 195.80 | -12.4 |
| Fag Bearings | 3800.00 | 4330.40 | 3821.70 | -11.7 |
| Dabur India | 265.00 | 297.50 | 265.70 | -10.7 |
| eClerx Services | 1338.10 | 1503.25 | 1352.40 | -10.0 |
| Astral Poly | 381.00 | 426.05 | 383.85 | -9.9 |
| GE T&D India | 296.00 | 328.50 | 296.60 | -9.7 |
| Greaves Cotton | 119.50 | 132.05 | 119.90 | -9.2 |
| Thermax | 775.00 | 854.75 | 776.70 | -9.1 |
| Indoco Remedies | 251.50 | 276.70 | 259.65 | -6.2 |
