The stocks have fallen like nine-pins in the market today as the selling pressure exacerbates on the fifth straight day. While the Nifty struggled around 23000, the Sensex has nosedived over 1200 points intra-day. Investors wealth has eroded by over Rs 10 lakh crore. While the mid and small cap stocks are seeing double digit cuts, even large caps are down sharply in trade today-
Top 5 Index losers in trade today
Eicher Motors
Eicher Motors is the top Index loser today, down over 6%. At one point of time, the stock was down over 7% intra-day. However, on a YTD basis, it is still delivering about 2% returns to investors and has yielded over 28% returns over 1 year. Brokerages are however circumspect about the extent of returns in next 6-8 months. The company declared its earnings yesterday and the contraction in the Q3 margins is the big worry for the markets. Several brokerages have also raised concerns about the big ad spend in Q3. The stock has been downgraded by key brokerages including UBS and Goldman Sachs. UBS has highlighted margin pressure as the primary worry.
Apollo Hospital
Apollo Hospital is another key Index loser. It is down 6.5% intra-day. This is primarily on the back of profit booking after the company reported its Q3 earnings. The stock has slipped past its 6-month lows as investors flocked to book profit after its strong quarterly performance. On a YTD basis Apollo Hospital is down 14%. The cut in the last 5 days after it reported numbers is as much as 8%.
Shriram Finance
Shriram Finance is down over 4% intra-day. The stock has seen significant selling pressure in the past 5 days down over 7%. Though YTD returns are negative, the stock has yielded positive returns for investors over 1 year. It is up 18%.
BEL
BEL is another big loser in trade today, down over 3%. The stock has seen significant selling pressure in the past 5 sessions along with the rest of the market. However, over 1-year it has delivered over 50% returns for the investors. The defence Ministry, recently signed contracts worth Rs 10,147 crore with key companies including BEL. The contract with BEL is for upgrading the SHAKTI Software, enhancing the capabilities of India’s rocket artillery systems.
Coal India
Coal India has also seen significant selling pressure in trade today. The stock is down over 3%in trade today. YTD, the stock is down over 7%. The stock has also hit a 52-week low in trade today. The company had recently announced a dividend of Rs 5.60 per share.