Nearly a quarter of listed stocks on the BSE trade below face value

Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent

Vodafone Idea tumbled 29 per cent to hit a new low of Rs 6.56 on the BSE on Monday, after the telecom services provider posted a consolidated net loss of Rs 4,874 crore for the quarter ended June 2019, due to weak revenue. The fall took the counter below its face value of Rs 10.

Besides Vodafone Idea, there are as many 682 stocks (21 per cent) out of total of 3,216 stocks traded on the BSE, including Reliance Power, Reliance Communications, IFCI and United Bank of India that are currently quoting below their respective paid-up values on the BSE,