Bharat Heavy Electricals: Quotes, News

BSE 248.053.65 (-1.47%)

NSE 248.113.73 (-1.50%)

IDFC: Quotes, News

BSE 1080 (0.00%)

NSE 107.970 (0.00%)

Bharat Heavy Electricals

Power equipment major, Bharat Heavy Electricals (BHEL) which began the month with a price of Rs 158 has dipped to Rs 117. The power industry to which BHEL supplies power equipment has been in the doldrums, thanks to coal allocation and investment worries plaguing the industry.

Unless the investment cycle picks up, its unlikely that the stock of BHEL would recover anytime soon.

Punjab National Bank

Punjab National Bank has lost as much as 25 per cent in August so far and is currently traded at Rs 425. Lingering worries over increasing non performing assets and sagging economic growth have been pulling the stock lower. RBI measures to tighten liquidity has also seen the stock slump.

IDFC

IDFC lost 24 per cent in the month of August. First, FII holding in the stock was reduced and then it was excluded from the MSCI index. As it is, sentiments for financial and banking stocks are already very poor.

UltraTech Cement

Cement stocks were battered in the month of August and Ultratech Cement moved in line with poor sentiments. Worries over dwindling economic growth has weighed on these stocks. Ultratech has so far lost 21 per cent in the month of August.

Asian Paints

For the last few months FMCG companies and consumer companies like Asian Paints have been in the limelight as they have proved to be bellweather stocks in times of lower economic growth. However, some of these companies have seen selling pressure as investors realise that valuations are extremely high. Asian Paints has lost 20 per cent in August as investors have begun realising that these stocks have become rather expensive.

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