Select mid-cap stocks witness carnage.
Core Education shares dropped as much as 65 per cent to Rs. 103.60 before making some recovery. It is India’s largest global education company and provides transformational and innovative solutions in the education space. Core Education had reported a consolidated sales turnover of Rs. 485 crore and a net profit of Rs. 68 crore for the October to December quarter.
Shares in Bangalore-based manufacturer of invasive and non-invasive medical equipment Opto Circuits (India) were down 13 per cent. Opto Circuits shares witnessed huge selling pressure last week as well, ending down 13.65 per cent. Opto Circuits had reported 9 per cent fall in consolidated net profit at Rs. 113 crore for the third quarter ended December.
Other stocks that saw huge selling pressure included Welspun Corp, down 27 per cent, ABG Shipyard, down 20 per cent and Videocon Industries, which traded 11 per cent lower.
Welspun Corp Ltd scrip dived to its 52-week low of Rs 56.60 in the NSE before recovering to Rs 63.65, down by Rs 20.30 or 24.18 % in the NSE.
Eros International Media was another stock to be hammered, losing Rs 23.45 or 11.89 per cent to Rs 171.55.
Stocks such as DB Realty and Orbit Corporation also were caught in the whirlpool of selling.