Ten fairytale stocks that eroded investors wealth in June 2021
The shares of companies belonging to Adani Group took a massive hit in the month of June 2021, after a report circulated raising questions about some offshore investors.
Sensex has gained by around 8.57 per cent on a YTD basis. Catching up with the positive momentum in the stock markets, some stocks proved to be fairytales, rewarding investors with sumptuous returns.
But alas! News and rumours in the markets rattled the string rally of such stocks. The shares of companies belonging to Adani Group took a massive hit in the month of June 2021, after a report circulated raising questions about some offshore investors. The report indicated that India’s National Securities Depository Limited (NSDL) froze the accounts of three Mauritius-based funds because of insufficient information, causing the shares of some of the Group’s listed companies to tumble for the month of June.
The buzz and excitement of investors in Tanla Platforms seems to have fizzled out as the scrip, which had previously gained by around 900 per cent in 2020, declined by 7.36 per cent in June 2021.
Below is the list of some of the worst performing BSE 500 stocks in June 2021:
|
Company name
|
Sector
|
Returns
|
|
In June 2021
|
YTD
|
|
Adani Ports and Special Economic Zone Ltd
|
Logistics
|
-18.96
|
28.46
|
|
Adani Transmission Ltd
|
Trading
|
-13.3
|
199.37
|
|
Adani Green Energy Ltd
|
Power
|
-12.47
|
4.43
|
|
Poly Medicure Ltd
|
Healthcare
|
-11.95
|
74.85
|
|
Tanla Platforms Ltd
|
IT
|
-10.92
|
12.45
|
|
Graphite India Ltd
|
Capital Goods
|
-10.58
|
117.91
|
|
Adani Total Gas Ltd
|
Gas Transmission
|
-8.07
|
251.65
|
|
Bharat Heavy Electricals Ltd
|
Capital Goods
|
-7.88
|
69.25
|
|
Can Fin Homes Ltd
|
Finance
|
-7.55
|
3.64
|
|
ABB Power Products & Systems India Ltd
|
Capital Goods
|
-6.82
|
38.11
|