One in four BSE 200 stocks yet to recover from note ban

Pharma, banking and rural demand-based industries among laggards

The S&P BSE Sensex may have recovered from demonetisation to touch a new high of 29,649 points recently, but quite a few large- and mid-cap stocks are yet to recover from the note ban.

Nearly 28% of the BSE 200 stocks trade below their November 8, 2016, levels. These include IDFC Bank, Dr Reddy’s Laboratories, Reliance Communications, United Breweries, Amara Raja Batteries, CRISIL, Shriram City Union and Tata Motors, which are down 13-16% from November 8. Divi’s Laboratories tops the list with losses of almost 50%. 

The Sensex and the S&P BSE 200, on the other hand, are up 7-7.5%