Shares of YES Bank Ltd, Tata Steel Ltd, State Bank of India (SBI), Infosys Ltd and Life Insurance Corporation of India Ltd (LIC) are among 15 top retail-heavy stocks on BSE500, which failed to match stock market returns in 2023 so far, data compiled from corporate database AceEquity suggest.
YES Bank was the favourite BSE500 stock, having 48.21 lakh small investors as of June 30. These were the investors, who held up to Rs 2 lakh worth YES Bank shares at the end of June quarter. Shares of this private lender, however, disappointed investors by falling 18 per cent year-to-date compared with a 7 per cent rise 7.89 per cent rise in the BSE500 index during the same period. An average target price on this stock at Rs 15, as per Trendlyne, suggests 11 per cent potential downside.
SBI, which has 28.84 lakh small investors owning 6.16 per cent of the lender's stake, saw its shares falling 7.79 per cent year-to-date. But the average share price target on this stock at Rs 711 suggests a 25 per cent potential upside.
Infosys too disappointed its 9.32 lakh small shareholders, who owned 9.32 per cent stake in the second largest IT firm as on June 30. This stock is down 6 per cent in 2023 so far. Infosys' share price targets suggests upside is capped for the technology stock.
LIC shares have fallen 5 per cent, disappointing its 32.05 lakh retail investors a bit. LIC's target at Rs 800 suggests 21 per cent potential upside.
Similar was the case with retail favourites HDFC Bank, Vodafone Idea, Indian Railway Catering And Tourism Corporation Ltd (IRCTC), whose shares stayed flattish against a healthy market return. HDFC Bank's target suggests 27 per cent upside, Vodafone's 31 per cent downside and IRCTC's 5 per cent downside.
That said, shares such as Suzlon Energy, Tata Motors, ITC and Tata Power delivered 13-90 per cent returns during the period. Suzlon Energy, which has 24.49 lakh retail investors, soared 91 per cent year-to-date. Tata Motors with 34.41 lakh shareholders saw 59 per cent jump. ITC delivered 35.70 per cent return to its 29.62 lakh retail investors. Tata Power also delivered 13 per cent return. This Tata group firm has 37.77 lakh retail investors.
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