Helia, James Hardie, and New Hope Drops on Monday. Here's Why.

Mon 24 Mar 25, 05:41 AM | Team Kalkine

Image source: Shutterstock

Highlights

Helia Group shares plunged 27% after losing a key contract with Commonwealth Bank of Australia.

James Hardie Industries dropped 12% following its US$8.75 billion acquisition of The AZEK Company Inc.

New Hope Corporation fell 6% as its shares went ex-dividend after declaring a 19 cents per share interim dividend.

The S&P/ASX 200 Index closed 0.072% lower to 7,936.90 points. Several stocks have been hit particularly hard today, with Helia Group, James Hardie Industries, and New Hope Corporation among the biggest losers. Here's a closer look at why these shares are under pressure.

Helia Group (ASX:HLI) Tumbles on Lost Contract

Helia Group has suffered a major blow, with its share price plummeting 27% to AU$3.55 after confirming that it is likely to lose its long-standing contract with Commonwealth Bank of Australia (ASX:CBA).

The mortgage insurance provider disclosed that the LMI business underwritten under this contract represented approximately 44% of gross written premium (GWP) in FY 2024. Losing this deal could have a significant financial impact on the company moving forward.

CEO and managing director Pauline Blight-Johnston expressed disappointment over the development, stating:

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