Stock market update: These stocks plunged up to 21% on Thursday despite a bullish market

NEW DELHI: Shares of CG Power and Industrial Solutions (down 21.16 per cent), Atlanta (down 19.98 per cent) and Leel Electricals (down 19.98 per cent) plunged up to 21 per cent on NSE on Thursday despite market sentiment remained upbeat.

CG Power and Industrial Solutions on Wednesday said that its consolidated net loss increased by 31 per cent to Rs 581.82 crore in the quarter ended on March 2018 due to a provision of exception items of Rs 414.84 crore.

Shares of Atlanta hit 52-week lows after statutory auditors of the company resigned.


Fineotex Chemical (down 11.07 per cent), Bombay Dyeing & Mfg Company (down 10.46 per cent), Vikas EcoTech (down 10.89 per cent), Manpasand Beverages (down 9.98 per cent) and Dilip Buildcon (down 9.03 per cent) plunged up to 11 per cent.

Shares of Dilip Buildcon plunged on rumours around the resignation of the company's statutory auditors.

However, Reuters reported on Wednesday that the company had denied any such development, emphasizing no truth in the rumour.

The domestic equity market put up a spectacular show on Thursday, as BSE benchmark Sensex hit two-week high after surging 416 points or 1.19 per cent.

The Nifty50 index jumped 122 points, or 1.15 per cent, to settle at 10,736, with 34 stocks advancing and 16 declining.

Sun Pharma, Tata Motors, Dr. Reddy's Laboratories, Hero MotoCorp and Hindalco Industries emerged among the top losers in the Nifty index.