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Midcap, Smallcap stocks under pressure; PC Jeweller plunges 29%

Ruchi Soya, Arshiya, Century Textiles, SAIL, Repco Home Finance, Just Dial, Jet Airways, Rane (Madras), Ashapura Minechem and Jindal Polyfilms were down in the range of 5% to 10%.

SI Reporter  |  Mumbai 

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (Photo: Kamlesh Pednekar)

Shares of mid-and-smallcap companies were under pressure, falling by up to 29% on the BSE in intra-day trade on Wednesday.

PC Jeweller, Ruchi Soya Industries, Arshiya and Century Textiles were down in the range of 10% to 29% on the BSE. Repco Home Finance, Just Dial, Jet Airways, Rane (Madras), Ashapura Minechem, Jindal Polyfilms and Steel Authority of India (SAIL) down between 5% to 9%.

At 03:03 pm; the S&P BSE Midcap index and the S&P BSE Smallcap index, down 1% each, as compared to 0.04% decline in the benchmark S&P BSE Sensex.

PC Jeweller has tanked 29% to Rs 103, falling 33% from its early morning high of Rs 154 on the BSE, despite the company announcing a share buyback proposal.

PC Jeweller on Sunday, April 29, said that the board of directors of the company will meet on Friday, May 5, 2018 to consider the proposal for buy back of fully paid-up equity shares of the company. The board will also consider the audited standalone and consolidated financial results of the company for the quarter/financial year ended March 31, 2018 and recommendation of dividend, if any.

With today’s fall, the stock of PC Jeweller has tanked 64% in past one week from Rs 289 on April 24, 2018. The stock plunged 83% from its 52-week high of Rs 601 hit on January 16, 2018.

InterGlobe Aviation (IndiGo) was down 3.6% to Rs 1,350, extending its past two days 7% fall, after the resignation of its president Aditya Ghosh.

According to PTI report, the Securities and Exchange Board of India (Sebi) is probing a more than 6% plunge in the country's largest domestic carrier's shares price on April 27.

Hours after the market close that day, the airline announced the resignation of Ghosh at 7.56 pm. While his resignation as president is effective from July 31, Ghosh quit as a director of the company with effect from April 26, a day before the announcement was made. CLICK HERE TO READ FULL REPORT

PC JEWELLER 107.85 145.00 -25.62
RUCHI SOYA INDS. 12.75 15.25 -16.39
ARSHIYA 64.95 74.05 -12.29
REPCO HOME FIN 584.00 645.15 -9.48
CENTURY TEXTILES 1147.00 1262.10 -9.12
JUST DIAL 406.05 445.95 -8.95
MOSCHIP SEMICON. 37.20 40.20 -7.46
JET AIRWAYS 596.00 641.95 -7.16
CMI 335.05 359.55 -6.81
ASHAPURA MINECH. 67.85 72.80 -6.80
JINDAL POLY FILM 286.00 306.35 -6.64
INDIA GLYCOLS 563.20 603.15 -6.62
RANE (MADRAS) 894.95 956.20 -6.41
EVEREST KANTO 48.45 51.65 -6.20
ARROW GREENTECH 322.00 342.95 -6.11
GODAWARI POWER 537.00 571.85 -6.09
KELLTON TECH 61.65 65.55 -5.95
ALLSEC TECH. 360.00 381.60 -5.66
BOMBAY BURMAH 1537.75 1629.30 -5.62
BOMBAY DYEING 293.00 310.35 -5.59

First Published: Wed, May 02 2018. 15:14 IST