Reliance Power, Waaree, Cochin Shipyard, JP Power, Swan Energy among 500 shares hitting lower circuits today

Reliance Power Ltd, Jaiprakash Power Ventures Ltd (JP Power), Cochin Shipyard Ltd, Garden Reach Shipbuilders & Engineers Ltd (GRSE), Waaree Renewable Technologies Ltd and Swan Energy Ltd are some 500 stocks on BSE that hit their respective lower circuit limits in Monday's trade. Others included three BSE IPO constituents such as Exicom Tele-Systems Ltd, JNK India Ltd and Suraj Estate Developers Ltd. Five BSE SME index stocks were also among the 500-stock list.

Stocks tumble across-the-board, with midcap and smallcap indices diving up to 4 per cent in trade amid fears a delay in the Fed rate cuts would results in recession in the US, and may lead to foreign outflows.

"This sell off is more of a short-term volatility by way of profit booking and is no indicator of any long term panic mode set in the Indian equities. For investors looking at entering the equity market, a staggered entry during volatile periods can be considered," said Tanvi Kanchan of Anand Rathi.

Vishnu Kant Upadhyay, AVP, Research and Advisory at Master Capital Services said disappointing US economic data has raised concerns about a potential economic slowdown in the world’s largest economy. Additionally, the yen carry trade has further dampened global sentiment, he said.

JP Power shares hit their 5 per cent lower circuit limit at Rs 18.81 on BSE. Reliance Power was locked at Rs 32.85, down 4.98 per cent. Genus Power, Sterling and Wilson Renewable Energy, Swan Energy, Cochin Shipyard and GRSE were some of the BSE 'A' group stocks hitting 5 per cent circuit each. Waaree Renewable Technologies and Waaree Technologies Ltd tanked 5 per cent each.

Aurionpro Solutions Ltd, TRIL, PC Jeweller, Solara Active Pharma Sciences Ltd, Paras Defence and Space Technologies Ltd and Gensol Engineering Ltd were some other stocks that were locked at 5 per cent lower circuit limits.

Five BSE SME index stocks namely Ahasolar Technologies Ltd, Innovatus Entertainment Networks Ltd, Shoora Designs Ltd, Bondada Engineering Ltd and Meson Valves India Ltd were locked at 5 per cent circuit each. BSE IPO index constituents Exicom Tele-Systems Ltd, JNK India Ltd and Suraj Estate Developers Ltd also hit 5 per cent lower circuits.