IDBI, SpiceJet fall up to 21% in volatile week
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- 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).
Why it matters: Geopolitical shocks and policy shifts are hammering specific stocks, signaling broader market vulnerability.
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