Markets have rebounded after the huge sell-off seen on Thursday. Here are a few stocks that have fallen sharply in trade today.
Geojit Financial Services
Shares in Geojit Financial Services plunged as much as 6 per cent in trade, at Rs 76.30. The stock is not very far away from its 52-week low.
The stock fell, after the company's numbers lagged estimates. Geojit Financial Services reported a net profit Rs 12.67 crores for the quarter ending June 30, 2018, which was way lesser than Rs 19.28 crores reported in the period ending March 31, 2018.
Geojit is a leading stock broking firm in the country.
This is another stock that reacted to results. The shares of the company were locked at the lower end of the circuit filter, with only sellers in the counter. At Rs 202.35, the shares were down 5 per cent on the National Stock Exchange.
Arrow Greentech developed Waterso, India's first Water-Soluble Capsulated Hygiene chemicals. The company's expertise enables it to provide solutions, applications and management systems in the health, hygiene, packaging, printing and security industries.
This stock has plunged from levels of Rs 242 seen in November to the current price of Rs 25. The shares were once again locked at the lower end of the circuit filter with only sellers in the counter.
The company has been plagued with adverse market conditions and cash flow related problems. The shares of JBF, in the last few months have only headed downwards. Even at levels of Rs 25 odd, the shares were seeing only sellers.
The shares of Jet Airways was down 5 per cent in trade at Rs 315, after reports that the company was facing a cash crunch and had asked employees to take a salary cut.
According to report in the Economic Times, the company had told its employees it had no money to run the airline beyond 60 days.
In fact, airlines had been facing a dramatic reversal in fortunes, after crude oil prices continued to rise and stiff competition.
Most of the stocks from the midcap and small cap space, seem to be plunging if there is any adverse news or financial performance is not upto the mark. Investors are hence advised to continue to take shelter in stocks that offer a good dividend yield and have a proven track record of governance and profits.