Mid and Small-caps under pressure; 132 stocks hit 52-week low
Adani Power, Reliance Power, Punj Lloyd, GTL, GTL Infra, Gammon Infra, KSK Energy and MBL Infra among 20 stocks from the midcap and smallcap index hitting their record lows on the BSE.
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Shares of mid and smallcap companies were under pressure with 132 stocks hit their respective 52-week lows after more than 1% fall in these indices.
Adani Power, Reliance Power, Punj Lloyd, GTL, GTL Infrastructure, KSK Energy Ventures, Gammon Infrastructure and MBL Infrastructure were among 20 stocks from the midcap and smallcap index hit their record lows on the BSE in intra-day trade today.
At 12:11 pm; the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1% and 1.3%, respectively. On comparison, the S&P BSE Sensex was down 0.17% at 35,429 points.
Thus far in CY18, both the S&P BSE Small-cap and the S&P BSE Midcap indices have underperformed by falling 16% and 13% respectively, as compared to 4% rise in the S&P BSE Sensex.
Shares of seven public sector banks – Bank of India, Union Bank of India, Andhra Bank, Indian Overseas Bank, Oriental Bank of Commerce and Syndicate Bank – hit 52-week lows after the Reserve Bank of India (RBI) on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6% in March 2018 to 12.2% by the end of the current financial year ratio.
The 11 banks under PCA framework or RBI watchlist of their high bad loans are - IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, the PTI report suggested. CLICK HERE TO READ FULL REPORT
Adani Power, Reliance Power, Punj Lloyd, GTL, GTL Infrastructure, KSK Energy Ventures, Gammon Infrastructure and MBL Infrastructure were among 20 stocks from the midcap and smallcap index hit their record lows on the BSE in intra-day trade today.
At 12:11 pm; the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1% and 1.3%, respectively. On comparison, the S&P BSE Sensex was down 0.17% at 35,429 points.
Thus far in CY18, both the S&P BSE Small-cap and the S&P BSE Midcap indices have underperformed by falling 16% and 13% respectively, as compared to 4% rise in the S&P BSE Sensex.
Shares of seven public sector banks – Bank of India, Union Bank of India, Andhra Bank, Indian Overseas Bank, Oriental Bank of Commerce and Syndicate Bank – hit 52-week lows after the Reserve Bank of India (RBI) on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6% in March 2018 to 12.2% by the end of the current financial year ratio.
The 11 banks under PCA framework or RBI watchlist of their high bad loans are - IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, the PTI report suggested. CLICK HERE TO READ FULL REPORT