Over 15 Nifty 500 stocks tumble 10–18% last week; Transformers & Rectifiers hit hard

Key Highlights

• Although Indian equities began the year on a firm note, with the Nifty 50 scaling a fresh record high of 26,273, optimism quickly faded following US military action against Venezuela, which intensified geopolitical concerns, and renewed warnings from President Donald Trump about potential tariff hikes on India.
• Meanwhile, the broader Nifty 500 also posted a similar decline of 2.62% last week, with 17 stocks in the index falling between 10% and 18%.
• Transformers & Rectifiers emerged as the top laggard, with the stock plunging 18.5% to ₹274.3 apiece.
• The sharp sell-off followed the release of the company’s December quarter performance, which appeared to dent investor sentiment.
• Similarly, Elecon Engineering came under heavy selling pressure during Friday’s session, with the stock sliding 16% after its December quarter results.