43 SME stocks take hit, index down 4% after SEBI advisory; what analysts say

SME stocks took a beating on Thursday, with 43 of SME IPO index constituents falling against 13 that ended higher after the market regulator SEBI asked stock investors to be careful and watchful of practices by some of the SME companies and their promoters, post listing.

SEBI said some of the listed companies are projecting an unrealistic picture of their operations, with promoters making…