Benchmark BSE Sensex: Even though the benchmark BSE Sensex gave more than 20 per cent returns in 2021, nearly 100 stocks of the BSE 500 index hurt investors this year. However, buying from institutional investors, strong liquidity and improving macro factors continued to support sentiment throughout the year. Omicron’s identity kept the market under pressure in the last quarter of the calendar year.
Ujjivan Small Finance caused the most damage
Among the losers on Dalal Street, the stock of Ujjivan Small Finance was down 53 per cent at Rs 18.55 on December 28, compared to Rs 39.30 a year ago on December 31.
Heavy losses, rising NPAs and a large number of resignations kept pressure on Ujjivan Small Finance. The lender posted a loss of Rs 507.27 crore for the half year ended September 30, as against a profit of Rs 150.65 crore in the same period last year. At the same time, in the second quarter of FY22, its gross NPA in comparison to advance reached the level of 11.80 percent.
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Other big losers in the index were Strides Pharma (49 per cent), Spandana Sphoorti Financial (42 per cent), Gulf Oil Lubricants India (39 per cent), IOL Chemicals & Pharmaceuticals (38 per cent), Bandhan Bank (38 per cent) and RBL Bank ( 38 percent).
RBL Bank also gave a blow
At the end of the year, RBL Bank suffered a major setback. In fact, on December 25, the RBI had appointed Yogesh Dayal, Chief General Manager in-charge of the Department of Communications, as an additional director on the bank’s board. Later on the same day, the bank informed the exchanges that Vishwavir Ahuja, long term MD and CEO of RBL Bank, has gone on immediate leave. Thereafter, executive director Rajiv Ahuja was named interim MD and CEO for three months, for which regulatory approval would be required. Due to this, the stock of RBL remains under pressure.
The list includes Vakrangee, AstraZeneca Pharma India, Hathway Cable & Datacom, DCB Bank, Whirlpool India, Amara Raja Batteries, Jubilant Pharma, Responsive Industries, MAS Financial Services, SpiceJet, Walkart, Procter & Gamble, Johnson Control-Hitachi Air Conditioning India and Aarti drugs saw a decline of more than 25 per cent.
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