Top Losers of the Day: JSW Steel, Adani Ports, NTPC, SBI, and Axis Bank – December 11, 2024

On December 11, 2024, the BSE Sensex and NSE Nifty50 ended the day in the green. The Sensex closed at 81,526.14, gaining 16.09 points (0.02%), and traded between 81,742.37 and 81,383.42 during the day. Meanwhile, the Nifty50 rose by 31.75 points (0.13%), ending at 24,641.80. It reached a high of 24,691.75 and a low of 24,583.85 during the session.

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

• JSW Steel 

JSW Steel share price closed today at ₹998.00, marking a decline of 1.48%. The company has received a show cause notice and a penalty of ₹64.47 crore from the GST and Central Excise Authority for failing to pay GST under the Reverse Charge Mechanism (RCM). The demand order, issued by the Office of the Commissioner of GST and Central Excise in Belagavi, claims that the company did not pay GST on upfront and monthly payments made for mining rights in Karnataka between July 2017 and July 2019. 

• Adani Ports and Special Economic Zone

Adani Ports and Special Economic Zone share price closed today at ₹1,231.95, marking a rise of 1.35%. Adani Ports and Special Economic Zone (APSEZ) shares will be closely watched after the company withdrew its request for a $553 million loan from the U.S. Development Finance Corporation (DFC) for the Colombo West International Terminal (CWIT) project in Sri Lanka. Instead, the company has decided to fund the project using its own resources, as per the information shared with the exchanges.

• NTPC

NTPC share price closed today at ₹365.90, marking a rise of 0.88%. 

• State Bank of India

State Bank of India share price closed today at ₹861.80, marking a rise of 0.66%. 

• Axis Bank

Axis Bank share price closed today at ₹1,147.00, marking a rise of 0.58%. 

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.