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Smallcap index hits 52-week low

TBZ, Shree Ganesh Jewellery House, IFB Industries, Jai Corp and Opto Circuits are down 6-13% on BSE.

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SI Reporter Mumbai
Shares of small-sized companies are under pressure on the bourses with the Bombay Stock Exchange (BSE), small-cap index hits 52-week low today.

The smallcap index is down 0.68% at 5,678 on BSE at 11.05 hours. The index hit 5,660 points, its lowest level since January 2012. Most the stocks from the index are trading lower by 3-13%. On the other hand, the BSE Mid-cap index has declined 1.36% or 5,955 as against 0.9% fall in the benchmark indices.

Tribhovandas Bhimji Zaveri (TBZ), Shree Ganesh Jewellery House, IFB Industries, Jai Corp, Opto Circuits, Orbit Corporation, Pratibha Industries, Sterlite Technologies and BF Utilities from smallcap space are down more than 6% each.

About 63 stocks from smallcap index, including VIP Industries, Dhanlaxmi Bank, SRF, STC India, Balrampur Chini Mills and Dishman Pharmaceuticals are trading at their 52-week lows.

The companies engaged in gems and jewellery business are under pressure on the bourses and trading lower by up to 20% on concerns that the Reserve Bank of India's and government initiative to curb gold imports may impact the sectors' growth.

Besides, TBZ and Shree Ganesh Jewellery, Gitanjali Gems, PC Jeweller and Shree Ganesh Jewellery House are down in the range of 6-20%.

Shares of Jaypee Group all three listed companies such as Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech are trading at their 52-week lows on reports that Jaypee Cement has shelved the plan to sell its Gujarat unit as it did not get the “right” price.

Jaiprakash Power Ventures has tanked 15% to Rs 17.30, while Jaiprakash Associates dipped 10.4% to Rs 51.65 and Jaypee Infratech by 6% to Rs 23.20 on the BSE.

The overall breadth of the BSE smallcap remains unhealthy as 291 stocks are declining while 110 are advancing.
 

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First Published: Jun 24 2013 | 11:18 AM IST

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