Top Losers of the Day – Asian Paints, Britannia, Apollo Hospitals, Cipla, ONGC on November 11, 2024

On November 11, 2024, India’s main stock indices, the BSE Sensex and NSE Nifty50, closed Monday’s volatile session nearly unchanged. The BSE Sensex finished at 79,496.15, with a minor gain of 9.83 points, or 0.01%, after trading between 80,102.14 and 79,001.34 during the day. Meanwhile, the NSE Nifty50 ended slightly lower by 6.90 points, or 0.03%, at 24,141.30, moving within a range of 24,336.80 to 24,004.60.

Out of the 50 stocks in the Nifty50 index, here are the NSE top losers for the day: 

• Asian Paints

Asian Paints share price closed at ₹2,547.80, reflecting a decline of 8%. Its shares dropped after the company’s September quarter results fell short compared to those of its competitors. Asian Paints saw a slight decline in volume by 0.5% year-on-year, while competitors achieved volume growth of 3-4%. The sharp declines in both sales and EBITDA raised concerns among analysts.

• Britannia Industries

Britannia Industries share price closed at ₹5,404.95, reflecting a decline of 5.95%. 

• Apollo Hospitals Enterprise

Apollo Hospitals Enterprise share price closed at ₹7,155.00, reflecting a decline of 3.95%. 

• Cipla 

Cipla share price closed at ₹1,549.75, reflecting a decline of 2.69%. Recently, the company announced that the U.S. Food and Drug Administration (USFDA) classified Cipla’s Goa manufacturing facility as “Voluntary Action Indicated” (VAI). According to Cipla’s statement, the USFDA issued the VAI classification on October 30, 2024, after inspecting the Goa unit for current Good Manufacturing Practices (cGMP) from June 10 to June 21, 2024.

• ONGC 

ONGC share price closed at ₹257.25, reflecting a decline of 2.02%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.