BSE Smallcap index slips 2%; Tejas Networks, Kernex tank up to 16%

In the past one week, the smallcap index tanked 6 per cent, as against the 2.9 per cent fall in BSE Sensex.

BSE Smallcap index movement today

 

Share prices of smallcap companies extended their losses, with the BSE Smallcap index falling 2 per cent on the BSE in Monday’s intra-day trade as risk appetite remains restrained amid lingering global uncertainty, continued foreign institutional investors (FII) outflows, and geopolitical overhangs.

 

At 11:40 AM; the BSE Smallcap index, the top loser among broader indices, was down 2.06 per cent, as compared to 0.8 per cent decline in the BSE Sensex. In the past one week, the smallcap index tanked 6 per cent, as against the 2.9 per cent fall in the benchmark index.

 

185 stocks from BSE Smallcap index hit 52-week lows

 

As many as 185 stocks from the BSE Smallcap index hit their 52-week lows in intra-day trade today. The list include Ashoka Buildcon, Bajaj Electricals, Bata India, BASF India, Carborundum Universal, Delta Corp, IRB Infrastructure Development, Jyothy Labs, Mahanagar Telephone Nigam Limited (MTNL), NCC, Nelco, Piramal Pharma and Raymond.

 

Meanwhile, 134 stocks declined more than 4 per cent in intra-day deals today. Of these, 46 stocks have seen their market price fall by over 5 per cent.

 

Among individual stocks, Tejas Networks tanked 13 per cent after the company reported a net loss of ₹197 crore for the quarter ended December 2025 (Q3FY26). The Tata Group Company had posted a net profit of ₹166 crore in a year ago quarter. Net revenue declined sharply by 88 per cent to ₹307 crore from ₹2,645 crore in Q2FY25.

 

Share price of Kernex Microsystems India plunged 16 per cent to ₹1,011 in intra-day deals after Chittaranjan Locomotive Works (CLW) rejected the company’s request to extend the delivery deadline for its 2024 order of On-Board KAVACH equipment for 2,500 locomotives, mainly caused by a delay in certification.

 

Due to delays in the certification process, Kernex Microsystems said the company could not complete the order within the stipulated timeline. A formal request for extension of the delivery period was submitted to CLW, however in its communication dated January 9, 2026, CLW has informed that the said request has not been considered, the company said in an exchange filing.

 

The non-consideration of the extension request does not adversely impact the company's financials, technical credentials, or eligibility to participate in current or future tenders floated by Indian Railways, the company said.

 

Indian Railways, through its production units, CLW and Banaras Locomotive Works (BLW), has recently floated additional locomotive tenders. The bidding process has been completed, and the announcement of the results is expected shortly. The company proposes to utilize existing inventory from this project for execution of upcoming CLW & BLW requirements, ongoing projects, and future opportunities, Kernex Microsystems said.

 

WPIL, Eimco Elecon (India), Quick Heal Technologies, Liberty Shoes, Signature Global (India), Jindal Photo and Indo Farm Equipment were among other stocks from the index down in the range of 7 per cent to 9 per cent.  CATCH STOCK MARKET LIVE UPDATES TODAY

Geojit Investments view on Indian equity market

 

The market has turned distinctly weak, weighed down by a series of India-specific and global geopolitical events. The drama surrounding the US-India trade deal is getting murkier with strange remarks from the US administration. This is impacting the market. Geopolitical developments in Venezuela, the crisis in Iran and Trump’s threats regarding Greenland are also being viewed by the markets with concern. This has spiked the India volatility index India VIX indicating big volatility ahead, said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

 

An expected ruling on Trump tariffs from the US Supreme Court on Friday didn’t materialise; there is no clarity on when this will happen. Yet it can happen any time and, therefore, investors have to be watchful of the development on this front. Therefore Q3 results and management commentary from the tech majors and other large caps in banking and companies like RIL will influence the market trend in the near-term, said Dr. VK Vijaykumar.