Aug 05, 2024 03:40 PM IST
Defence PSU stocks including Bharat Dynamics, Bharat Electronics, Hindustan Aeronautics and BEML fell up to 6 per cent.
PSU stocks were hit hard by the stock market crash as shares of RVNL, IRFC, Mazagon Dock and NBCC fell up to 8 per cent today (August 5). The BSE PSU and CPSE indices slipped up to 4 per cent as Sensex and Nifty fell resulting in all components trading in the red. This comes following weak global cues as disappointing US job data caused worries about a potential recession in US. Fears of a reverse carry trade in Yen after a rate hike by the Bank of Japan also arose.
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Which PSU stocks lost the most amid market crash?
Rail Vikas Nigam Ltd (RVNL) is the biggest loser in the PSU pack as it fell nearly 8 per cent. Indian Railway Finance Corporation Ltd and IRCON International Ltd were down 7 percent each, RailTel Corporation plunged nearly 7 per cent and Mazagon Dock Shipbuilders fell over 6.5 per cent.
Cochin Shipyard, Shipping Corporation of India and Garden Reach Shipbuilders Ltd. were locked in a lower circuit of 5 per cent each while Great Eastern Shipping Company stock also fell almost 5 per cent.
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What about defence PSU stocks amid market crash?
Defence PSU stocks including Bharat Dynamics, Bharat Electronics, Hindustan Aeronautics and BEML fell up to 6 per cent. NBCC India (Ltd) tanked over 7 percent, MMTC was down 6.5 per cent and Housing & Urban Development Corporation (HUDCO) cracked 6 per cent.
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What about other PSU stocks?
Key PSU stocks including Life Insurance Corporation of India, BHEL, SJVN, NLC India, GIC, SAIL, Coal India, Power Finance Corp and Hindustan Copper fell around 6 per cent each today.