Over 200 BSE-500 stocks under-perform since August

STOCK MARKET - As the markets remain in a consolidation mode after the S&P BSE Sensex fell 2.6% (873 points) from its closing high of 32,575, hit on August 1, 2017, there are over 200 stocks in the BSE500 index that underperformed the indices and fell up to 58% during this period. Meanwhile, Nifty50 index also cracked 1.9% (201 points) from its closing high of 10,114.

Poor earnings, geopolitical concerns over North Korea missile tests, India-China Doklam stand-off were few of the main reasons behind the fall in the indices.

Sectorally, pharma index was the biggest loser with BSE Healthcare and Nifty Pharma down 6.2% and 4.6% respectively, during the period after number of class action lawsuits filed against Indian pharmaceutical companies increased in the recent times. Natco Pharma, Ajanta Pharma, Ipca Laboratories, Glenmark Pharmaceuticals, Apollo Hospitals Enterprise and Biocon were few of the top losers in the BSE500.

Among the laggards, Religare Enterprises, J Kumar Infraprojects, Natco Pharma, Housing Development & Infrastructure (HDIL), Videocon Industries, Kwality and Kaveri Seed Company fell between 20-55% on BSE500.

Religare Enterprises cracked 58% since August 1 to its 52-week low of Rs 42.70. Recently, the firm announced that its standalone net loss has widened to Rs 47.39 crore for the first quarter ended June 30, 2017. The company had registered a net loss of Rs 25.84 crore in the same quarter of 2016-17.

GET LIVE UPDATES ON MARKET