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BSE SmallCap index hits 52-week low

SI Reporter/Mumbai 12 Feb 19 | 01:39 PM

The S&P BSE SmallCap index hit a 52-week low of 13,390 on Tuesday, on the back of sharp decline in fertiliser, graphite electrode, paper and auto ancillary stocks after they reported a weak set of numbers for the quarter ended December 2018 (Q3FY19).

The index has fallen below its previous low of 13,397 touched on October 9, 2018, in the intra-day trade. With today’s fall, the small index slipped 28 per cent from its 52-week high level of 18,672 on February 14, 2018. In comparison, the S&P MidCap index and the benchmark index S&P BSE Sensex were down 17 per cent and 7 per cent, respectively, from their 52-week high levels.

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Apex Frozen, CARE Ratings, Finolex Cables, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), GMDC, Graphite India, India Cements, Khadim India, LT Foods, MMTC, Philips Carbon Black, Rallis India, Sterlite Technologies, Tata Coffee and Zuari Agro Chemicals were among 122 stocks from the smallcap index hitting their respective 52-week lows on the BSE today.

Out of 859 stocks from the index, 129 stocks have seen their market price declined by an over 25 per cent thus far in the current calendar year 2019. Of these, seven stocks – LEEL Electricals, Reliance Communications (RCom), Siti Networks, IL&FS Transport Network, Punj Lloyd, The Byke Hospitality and Rolta India – tanked more than 50 per cent in past six weeks.

GNFC, the largest loser among smallcap index, down 10 per cent at Rs 277 today, as the company posted 27 per cent year-on-year (YoY) decline in net profit at Rs 166 crore in Q3FY19. The fertilizers company had reported a profit of Rs 228 crore in a year-ago quarter.

Operational revenue during the quarter under review dropped 23 per cent YoY at Rs 1,219 crore against Rs 1,591 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxation, depreciation and amortisation) decline by 81 per cent to Rs 80 crore in Q3FY19 from Rs 428 crore in Q3FY18. The company’s fertilizers segment posted a loss of Rs 44 crore before tax and finance cost against profit of Rs 2 crore in the previous year quarter.

Asian Songwon Colors dipped 10 per cent to Rs 140, falling 26 per cent in past six trading days on weak Q3 results. The company engaged in specialty chemicals business posted 56 per cent YoY drop in net profit at Rs 4.06 crore in Q3FY19. Operational revenue down 7.5 per cent to Rs 65.87 crore on YoY basis.

Shares of graphite electrode manufacturers HEG and Graphite India were 45 and 47 per cent respectively. Graphite India reported a consolidated net profit of Rs 764 crore (up 113 per cent YoY, down 31 per cent QoQ). Revenue was at Rs 1,855 crore (up 81 per cent YoY, down 21 per cent QoQ). Ebitda (earnings before interest, taxation, depreciation and amortisation) margin was down 100 basis points sequentially at 62 per cent.

The performance during the quarter was impacted by higher-than-expected operating costs (especially needle coke) and lower-than-expected volumes. Graphite India said the price realisation have remained flat while volumes declined from last quarter. The increase in needle coke costs has impacted margins.

The key dynamics behind these results being a combination of the stabilisation of electrode prices globally, lower volumes and an increase in needle coke cost. Graphite electrode prices have since softened due to a combination of factors like weak global steel prices, increased Chinese imports into India and selected trade restrictions placed by the US. Needle coke price increase has continued to impact margins, it added.

RCom tanked 63 per cent thus far in the current calendar year. The stock hit an all-time low of Rs 4.85 on February 6, 2019, in intra-day trade, after telecom services provider on February 1 said it will be filing for bankruptcy in the National Company Law Tribunal (NCLT).

RCom on Monday announced that Reliance Realty Limited, a wholly owned subsidiary of the company will develop the State’s first and the largest Smart Fintech Centre in Navi Mumbai.

Company31/12/2018LTP% chgLEEL Electricals57.0020.40-64.2Rcom14.395.34-62.9Siti Networks10.954.24-61.3IL&FS Transport13.855.58-59.7Punj Lloyd4.191.72-58.9The Byke Hospi.65.1031.05-52.3Rolta India8.444.16-50.7IL&FS Engg.17.078.93-47.7Mohota Indust.82.5043.70-47.0Graphite India756.45401.95-46.9Unitech2.091.12-46.4I G Petrochems416.65225.00-46.0HEG3719.552057.30-44.7Ashapura Inti.24.2513.45-44.5Kushal58.3032.50-44.3JBF Inds.22.5512.90-42.8SORIL Infra388.95224.05-42.4Zee Media24.1014.07-41.6Reliance Home41.6024.30-41.6Vivimed Labs.36.8521.85-40.7Orient Green6.263.75-40.1KSK Energy Ven.1.600.96-40.0Reliance Nav.Eng13.938.39-39.8Indiabulls Integ374.60225.90-39.7Kwality8.295.06-39.0Thirumalai Chem.111.4068.80-38.2BPL41.2025.70-37.6Patel Engg.37.7023.70-37.1Skipper87.0055.00-36.8Arrow Greentech125.4079.50-36.6Suzlon Energy5.423.45-36.3Prabhat Dairy90.5058.05-35.9Arcotech Ltd7.374.74-35.7HCL Infosystems25.0516.15-35.5Natl. Peroxide4333.102799.05-35.4Linde India681.60441.30-35.3Dena Bank17.1011.10-35.1Aban Offshore75.0548.75-35.0Asahi Songwon215.45140.00-35.0Religare Enterp.29.5019.20-34.9SREI Infra. Fin.36.2023.70-34.5G M Breweries760.45497.95-34.5Mercator12.078.00-33.7Ashapura Minech.31.1520.65-33.7Ruchi Soya Inds.9.046.00-33.6JP Associates7.705.16-33.0Ballarpur Inds.5.483.68-32.8IL&FS Inv.Manag.7.264.88-32.8Indo Count Inds.56.5038.10-32.6Sunil Hitech1.661.12-32.5Lak. Vilas Bank86.9058.90-32.2PPAP Automotive381.65259.00-32.1AXISCADES Engg.82.5056.00-32.1Kridhan Infra46.2031.50-31.8Ujaas Energy8.275.65-31.7CMI175.15120.00-31.5Jaypee Infratec.3.842.65-31.0Sundaram Clayton3648.152525.25-30.8Shivam Autotech44.5030.85-30.7Adit.Birla Money56.3039.20-30.4Future Market60.2542.00-30.3Moschip Semicon.25.8018.00-30.2Shankara Build.526.45367.55-30.2Nagarjuna Fert.8.736.10-30.1Kesar Petroprod.12.098.45-30.1Peninsula Land10.807.56-30.0Titagarh Wagons81.4057.00-30.0Mirza Internatio83.2558.30-30.0JK Agri Genetics967.90678.00-30.0Vimta Labs314.25220.90-29.7Khadim India545.70384.95-29.5Navkar Corporat.56.9540.20-29.4Infibeam Avenues47.4033.50-29.3S T C145.70103.10-29.2Indiabulls Vent.385.80273.10-29.2Sintex Plastics25.2517.90-29.1Tejas Networks207.45147.25-29.0Atlanta22.7516.15-29.0Welspun Corp139.0098.90-28.8Tata Steel BSL39.6028.25-28.7Rushil Decor667.05476.45-28.6Bombay Rayon8.466.05-28.5Butterfly Gan Ap298.80213.75-28.5Excel Inds.1490.901068.45-28.3Sintex Inds.11.828.49-28.2IFB Agro Inds.642.80462.00-28.1Hind.Composites292.90210.55-28.1Pricol Ltd50.2536.20-28.0BF Utilities216.00155.75-27.9Simplex Infra199.35143.85-27.8Kesoram Inds.86.7562.60-27.8Emami Realt.146.85106.00-27.8GVK Power Infra.7.755.60-27.7RPP Infra Proj.130.1594.20-27.6C P C L297.35215.70-27.5BF Investment254.55184.75-27.4Redington India88.5064.30-27.3Manali Petrochem31.8523.15-27.3Goa Carbon568.50413.30-27.3NOCIL165.55120.50-27.2Bhansali Engg.88.1564.50-26.8Phillips Carbon206.60151.40-26.7CG Power & Indu.45.0533.10-26.5Ruchira Papers136.10100.00-26.5VIP Clothing28.1020.65-26.5Emk.Global Fin.105.5077.55-26.5Rane Holdings1357.751001.00-26.3N R Agarwal Inds418.80308.95-26.2T N Newsprint258.90191.00-26.2I T D C336.90249.00-26.1Intellect Design225.40166.80-26.0Shriram EPC12.098.96-25.9Veto Switchgears72.3053.60-25.9Lumax Auto Tech.186.40138.20-25.9Jay Bharat Mar.318.05236.00-25.8Sanwaria Consum.11.328.40-25.8Rain Industries134.2599.65-25.8Star Paper Mills156.80116.50-25.7AksharChem (I)440.05328.00-25.5Royal Orch.Hotel130.1097.00-25.4Intrasoft Tech.187.70140.00-25.4M M Forgings648.00483.95-25.3Sunflag Iron58.9044.00-25.3Mangalore Chem.41.0530.70-25.2Gati86.9065.00-25.2Sterlite Tech.293.40219.95-25.0Tata Tele. Mah.4.003.00-25.0Shiva Texyarn199.90150.00-25.0IRB Infra163.85122.95-25.0    LTP: last traded price on BSE in Rs at 01:13 pm.

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Company Price Gain (%)
Reliance Inds.1,382.902.79
Tata Motors235.902.32
Asian Paints1,465.350.65
Coal India251.750.22


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