Today the S&P BSE SENSEX reclaimed 38k again and hit a fresh record high of 38,266.95. On the other hand, the NIFTY50 touched the level of 11,500 and hit the lifetime record high of 11,545.30 in the morning trade.
Strong global cues and positive momentum in the Asian markets led the rally. Despite the positive sentiment, there are many stocks which are not performing well. Among them are shares of Vadilal Industries that hit a fresh 52-week low on the back of heavy volumes in an otherwise strong market. In less than 10 days, the stock has slipped 26 percent from Rs 795 on August 10, after the company reported 5.8 percent on year decline in operating revenue of Rs. 2.29 billion in June 2018.
On this, the company said it has been looking revenues on ex-factory basis, not bearing the cost of transportation/storage till C&F locations. That explained the reducing reported Q1FY19 revenues.