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Tuesday, June 16, 1998

Twelve A-group scrips plunge to all-time low on BSE 

FE INVESTOR BUREAU  
NEW DELHI, June 15: Thanks to the panic selling on the market, as many as 12 scrips in the A group on BSE have touched their all-time lows. With the Sensex crashing 196 points on Monday, 10 scrips are trading close to their all-time lows.

Arvind Mills, Bank of Baroda, CESC, Garware-Wall Ropes, Gujarat Alkalies, Hindustan Motors, IDBI, ITC Hotels, Kesoram Industries, Oriental Bank, Thermax and TNPL touched their all-time lows.

Arvind Mills hit its all-time low of Rs 46 on June 12 and the scrip further slipped to a new low of Rs 44.25 on June 15. Since its listing in February 1997, Bank of Baroda had been on a steady rise and now the scrip has fallen victim to the bear onslaught. The scrip touched its all-time low of Rs 77.75 on June 12 and further shed its value to Rs 70 on Monday. Another bank scrip which has touched its all-time low is Oriental Bank of Commerce at Rs 44.65. The power major CESC has also touched its all-time low of Rs 25.

Kesoram Industries fell to its all-time low of Rs 21 on June 12and the scrip further shed its value to reach a new low of Rs 19 on Monday. TNPL has been continuously falling since the presentation of the budget as the government has cut duty on newsprint imports. The scrip is now trading at its all-time low of Rs 15.

Other scrips like Garware-Wall Ropes slipped to an all-time of Rs 18, Gujarat Alkalies Rs 42, Hindustan Motors Rs 10.1, IDBI Rs 63, ITC Hotels Rs 91.1 and Thermax Rs 141. The scrips which are now trading close to their all-time lows are Ashok Leyland, BILT, Bank of India, Bharat Forge, Ceat Ltd, Crompton Greaves, Garware Poly, IPCL and ITC Bhadrachalam.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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