5 Nifty stocks that saw maximum price destruction in Aug

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5 Nifty stocks that saw maximum price destruction in Aug
Bharat Heavy Electricals: Quotes, News
BSE 127.55BSE Quote2.15 (1.69%)
NSE 127.55NSE Quote1.9 (1.49%)
IDFC: Quotes, News
BSE 55.20BSE Quote1.3 (2.36%)
NSE 54.85NSE Quote1 (1.82%)
August has been a month of immense volatility, thanks to a falling rupee, fears of a military strike on Syria and worries over Fed tapering its stimulus in the month of September. The August F&O series ended yesterday with massive losses. Here are a few stocks that have lost maximum ground in the last 1 month.

Bharat Heavy Electricals

Power equipment major, Bharat Heavy Electricals (BHEL) which began the month with a price of Rs 158 has dipped to Rs 117. The power industry to which BHEL supplies power equipment has been in the doldrums, thanks to coal allocation and investment worries plaguing the industry.

Unless the investment cycle picks up, its unlikely that the stock of BHEL would recover anytime soon.

Punjab National Bank

Punjab National Bank has lost as much as 25 per cent in August so far and is currently traded at Rs 425. Lingering worries over increasing non performing assets and sagging economic growth have been pulling the stock lower. RBI measures to tighten liquidity has also seen the stock slump.

IDFC

IDFC lost 24 per cent in the month of August. First, FII holding in the stock was reduced and then it was excluded from the MSCI index. As it is, sentiments for financial and banking stocks are already very poor.

UltraTech Cement

Cement stocks were battered in the month of August and Ultratech Cement moved in line with poor sentiments. Worries over dwindling economic growth has weighed on these stocks. Ultratech has so far lost 21 per cent in the month of August.

Asian Paints

For the last few months FMCG companies and consumer companies like Asian Paints have been in the limelight as they have proved to be bellweather stocks in times of lower economic growth. However, some of these companies have seen selling pressure as investors realise that valuations are extremely high. Asian Paints has lost 20 per cent in August as investors have begun realising that these stocks have become rather expensive.

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Read more about: bhel, idfc, pnb, ultatech cement
Story first published: Friday, August 30, 2013, 8:45 [IST]
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