The Indian stock market has witnessed a strong rally in the last one year. Data available from ACE Equity shows that as of August 30, 2024, the BSE Sensex, India’s large-cap equity benchmark has surged 27% in the last one year, while the broader market index BSE 500 gained 40% in the last 12 months period.
However, despite this rally, some stocks from BSE 500 index have declined up to 46% in the same duration and eroded investors’ wealth. Among the top losers, several companies across various sectors have experienced notable drops in their stock prices, reflecting a challenging year in the market.
Zee Entertainment Enterprises, a major player in the media & entertainment sector, is the biggest loser in the BSE 500 index, with its stock declining by 46%. The company’s share price fell from Rs 266.20 on August 30, 2023, to Rs 140.8 on August 30, 2024. This steep drop also impacted its market capitalisation, which now stands at Rs 13,524 crore.
Rajesh Exports, operating in the diamond & jewellery sector, also suffered a heavy loss, with a 41% decline in its stock price over the year. The stock closed at Rs 292.75, down from Rs 493.20. The company’s market capitalisation is now Rs 8,644 crore.
Vaibhav Global, a Retailing company, experienced a 30% drop in its stock price, closing at Rs 317.25. The company’s market cap now stands at Rs 5,268 crore.
In the IT sector, One97 Communications (PAYTM) saw its stock fall by 28%. The stock closed at Rs 621.8 on August 30, 2024, down from Rs 861.70 a year ago, bringing its market capitalisation to Rs 39,570 crore.
In the Chemicals sector, Navin Fluorine International and Anupam Rasayan India faced substantial drops. Navin Fluorine’s stock fell by 28% to Rs 3,299, while Anupam Rasayan saw a 23% decrease, with its stock closing at Rs 777.1. These declines reflect the broader challenges in the chemicals sector, including raw material costs and global market dynamics.
Other significant decliners include VIP Industries in the Household & Personal Products sector, with a 27% drop, KRBL in Consumer Food with a 24% decline, IDFC First Bank in the Banking sector saw its stock fall by 21%, and finally, Medplus Health Services in Healthcare, also down 17%, reflecting challenges in the respective sectors.