34 stocks that made hay in ’90s, but left behind by market rally

While more than 300 stocks hit fresh all-time high on NSE in last one month, there are stocks that would require many more bull runs to recover the losses that they suffered over the past few years.

Among them, there are stocks that are down up to 50,000 per cent from their all-time high levels.

There are 34 stocks on NSE which hit their all-time high levels in 1990s, but are now down in the dumps even in a bull market. For instance, Archies hit the all-time level of Rs 161.75 in December 1999. Today, the scrip is trading at Rs 30.80, and needs to rise more than 425 per cent to reach its peak level.

Among the biggest losers, ATN International needs a 58,600 per cent upside to reach its highest level of Rs 88.05, which it had touched on December 24, 1999. The scrip was trading at Rs 0.15 on May 19.

Shares of Uttan Value Steel hit an all-time high of Rs 92 in November 1994. The scrip was trading at Rs 0.55 on May 19, and needs to gain more than 15,000 per cent to recover the losses from its peak level.

Among others, LML, Uniphos Enterprises, Value Industries, Consolidated Finvest, BPL, GTN Industries, Mukand and Ballarpur Industries are some of other stocks which hit their all-time high levels between 1994 and 1998. They now need to rise between 100 per cent and 1,000 per cent to reach their highest levels.

Shares of Excel Industries, Pil Italica, Maral Overseas and VLS Finance hit all-time high levels of Rs 536.67, Rs 28.88, Rs 76 and Rs 133.33 in November 1994, December 1995, March 1999 and December 1994, respectively. They need to rise 30-100 per cent to hit their all-time high levels again.

Market sentiments are positive at this stage on strong macro-economic fundamentals, implementation of GST and expectation of robust monsoon, the BSE Sensex and NSE Nifty scaled new highs above 30,500 and 9,500 levels for the first time ever on May 16.

“We expect the benchmark equity indices to climb around 15-20 per cent per annum over the next two years,” said Siddhartha Khemka, Head – Equity Research (Wealth), Centrum Broking.

Pankaj Pandey, Head of Research, ICICI Securities, said: “A further upside of around 10 per cent on the index cannot be ruled out given the stable commodity prices and revival of consumption-led demand, which would result in strong double-digit earnings recovery over FY18-19E.”