Divi’s Lab, Ramco, Idea among top 25 BSE wealth destroyers of FY17
After falling over 9 per cent in the financial year ended March 31, 2015, equity benchmarks Sensex and Nifty managed to notch up over 15 per cent gains for the financial year (FY16) gone by.
But select stocks from the BSE500 index rallied up to 288 per cent during the year. At the same time, 82 stocks from this broader market index slipped up to 50 per cent. The top wealth destroyers on the list included Intellect Systems and Ramco Systems, which plunged 49 per cent and 46.21 per cent, respectively, between April 1, 2016 and March 31, 2017.
Among other stocks on the list of wealth destroyers, Majesco slipped 41.30 per cent, Divi’s Lab 37 per cent, Inox Wind 35 per cent, Bajaj Hindusthan 33 per cent, Mindtree 31 per cent, Just Dial 30 per cent and GSK Pharma 28 per cent.
Also on the list were HFCL, Persistent System, Idea Cellular, BF Utilities, Ashok Leyland, Tata Elxsi, Rolta India, Reliance Communications, Religare Enterprises and GE T&D India, which slipped over 20 per cent during the financial year.
Most of the stocks declined due to poor show in quarterly earnings, regulatory issues and rising competition within a sector.
Among the overall listed universe on the BSE, 477 stocks ended the financial year in the red.
The top loser on the exchange was Perfect-Octave, which tanked 92 per cent. It was followed by BS (down 86 per cent), Khoobsurat (down 86 per cent), Visagar Polytex (down 85 per cent), Prakash Steelage (down 83 per cent) and Mandhana Industries (down 82 per cent).
Shares of Anshu Clothing, Sawaca Business and Global Offshore slipped 82 per cent, 83 per cent and 76 per cent, respectively, during the year.
Despite the rally in 2016-17, the financial year gone by remained tumultuous for the domestic equity market amid the UK vote to leave the European Union, demonetisation of high-value currency at home and the surprise victory of Donald Trump in the US Presidential election.
However, sustained inflows by foreign institutional investors (FIIs), domestic institutional investors (DII) and the ruling BJP’s historic victory in state elections helped the Nifty50 close at an all-time high level.
But select stocks from the BSE500 index rallied up to 288 per cent during the year. At the same time, 82 stocks from this broader market index slipped up to 50 per cent. The top wealth destroyers on the list included Intellect Systems and Ramco Systems, which plunged 49 per cent and 46.21 per cent, respectively, between April 1, 2016 and March 31, 2017.
Among other stocks on the list of wealth destroyers, Majesco slipped 41.30 per cent, Divi’s Lab 37 per cent, Inox Wind 35 per cent, Bajaj Hindusthan 33 per cent, Mindtree 31 per cent, Just Dial 30 per cent and GSK Pharma 28 per cent.
Also on the list were HFCL, Persistent System, Idea Cellular, BF Utilities, Ashok Leyland, Tata Elxsi, Rolta India, Reliance Communications, Religare Enterprises and GE T&D India, which slipped over 20 per cent during the financial year.
Most of the stocks declined due to poor show in quarterly earnings, regulatory issues and rising competition within a sector.
Among the overall listed universe on the BSE, 477 stocks ended the financial year in the red.
The top loser on the exchange was Perfect-Octave, which tanked 92 per cent. It was followed by BS (down 86 per cent), Khoobsurat (down 86 per cent), Visagar Polytex (down 85 per cent), Prakash Steelage (down 83 per cent) and Mandhana Industries (down 82 per cent).
Shares of Anshu Clothing, Sawaca Business and Global Offshore slipped 82 per cent, 83 per cent and 76 per cent, respectively, during the year.
Despite the rally in 2016-17, the financial year gone by remained tumultuous for the domestic equity market amid the UK vote to leave the European Union, demonetisation of high-value currency at home and the surprise victory of Donald Trump in the US Presidential election.
However, sustained inflows by foreign institutional investors (FIIs), domestic institutional investors (DII) and the ruling BJP’s historic victory in state elections helped the Nifty50 close at an all-time high level.
