New Delhi. Vaccination program has started in the country. Because of which the equity market is seeing good boom. Due to which the market cap of many companies has exceeded one lakh crore rupees. On Wednesday, the market cap had crossed Rs 1 lakh crore due to the rise in Tata Motors shares.
On the other hand, there are some companies listed in the market, which are continuously coming down after the vaccine rollout and after the vaccination process has started. The companies that hit 52 weeks high during the lockdown opening or two months ago have come down by 21%. Let us also tell you about those companies…
Shares of these big companies fall
Talking about the top companies of the country, Reliance reached a height of 52 weeks in September. After that the vaccine rollout started in the country. Since then, the company’s shares have seen a 14 per cent decline. While TCS has come down 12% from its peak. Talking about Infosys, its fall is 10 percent. At the same time, the tech company HCL has come down by 14 percent.
Pharma companies are facing a bad fate
The first name in this list is Biocon, which has slipped below its peak by 21%. There are more number of pharma companies in this list. Shares of pharma companies like Dr. Reddy, Torrent and Glenmark have fallen by up to 19 per cent. The shares of Aurobindo Pharma have seen a decline of 16 per cent. Whereas Cadila shares have also seen a decline of 15 per cent.
These companies also suffered losses
Not only did the shares of tech, IT and pharma companies see a decline, but also the stocks of auto, consumer companies have seen a decline. Maruti Suzuki has seen more than 16 per cent and Eicher Motors 17 per cent. On the other hand, shares of Godrej Consumer Products have fallen by 15.49 per cent and Britannia shares by 15.38 per cent.
What do you know?
According to stock market expert Rajneesh Khosla, many companies had reached their peak till the vaccine rollout. After which there is profit booking in the shares of companies. At the same time, the companies that were benefiting during the lockdown are suffering a lot after the vaccine rollout or the vaccination process. Due to which the market cap of companies has also seen a decline.
On the other hand, according to Ajay Kedia, director of Kedia Advisory, where shares of companies have seen an increase after vaccination rollout and vaccination process. A living example of this is Tata Motors. In the last three months, the shares of the company have seen an increase of 85%. While many companies have suffered losses. Those companies did not benefit from the vaccine rollout.