IDBI, SpiceJet among 10 stocks that saw sharpest fall, down up to 21% this week. Do you own any?
Why it matters: Geopolitical shocks and policy shifts are hammering specific stocks, signaling broader market vulnerability.
- IDBI Bank plunged 20.72% as government divestment plans faced uncertainty, with financial bids reportedly below the floor price (ETMarkets.com, The Economic Times).
- TTK Prestige dropped 13.94% despite high demand for induction cooktops, due to concerns over gas supply following Iranian missile strikes on Qatar's Ras Laffan LNG facility (Agencies).
- SpiceJet fell 12.68% after the DGCA mandated airlines offer 60% of seats without selection charges and ensure passengers on the same PNR are seated together (Reuters).
- Petronet LNG declined 10.01% as both the company and its supplier, QatarEnergy, indicated potential force majeure events due to regional hostilities impacting LNG tankers (ETMarkets.com).
- Bharat Petroleum Corporation Ltd. slipped 9.79% after UBS downgraded the stock, citing rising geopolitical tensions and crude prices creating earnings uncertainty for state-owned oil marketing companies (Reuters).
A volatile week saw ten Indian stocks, including IDBI Bank and SpiceJet, plummet up to 21% amidst escalating Middle East tensions, surging crude oil prices, and hawkish US Federal Reserve commentary. Concerns over government divestment plans, geopolitical disruptions to energy supply, and regulatory changes for airlines fueled the sell-off, with analysts drawing parallels to 2022's oil market instability.
