Voda idea, BHEL, ZEE see sharp wealth erosion as investors lose Rs 5 trn

Even as benchmark indices have touched new highs, 1,300 stocks have declined more than 35 per cent in year-to-date (YTD), wiping off Rs 5 trillion of investor wealth during this period.

The front line indices — Sensex and Nifty — have gained 15 per cent and 13 per cent, respectively, in YTD. The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.

According to market experts, given the weak market conditions, market-selling has been frantic even at the slightest hint of governance concerns or inability to meet debt obligations.