Many shares including Reliance Infra, Reliance Power, Tejas and Newgen fell up to 60% from 52 week high.
highlights
- Many shares including Reliance Infra, Reliance Power, Tejas and Newgen fell up to 60% from 52 week high.
- Sensex-Nifty close to record level, but deep correction in midcap-smallcap stocks
- Investors suffer huge losses due to overvaluation and sector pressure, many stocks at half price
Two different pictures are being seen in the Indian stock market at present. On one hand, Sensex and Nifty are stuck near their record levels, while on the other hand, many midcap and smallcap stocks have fallen 50 percent to 75 percent from their 52-week high. There are many such stocks, which were once considered the favorites of investors, but investors have suffered losses from these stocks. Now the prices of these shares have fallen by more than 50 percent, that is, the stocks are now cheap.
A big decline has also been seen in Reliance Infrastructure. This stock has fallen by about 74 percent from its peak. Weak performance and selling pressure in the infrastructure sector are believed to be the main reasons behind this. The 52 week high of the company’s share is Rs 423.40 and the company’s share is currently trading at Rs 109.84.
Shares of Cohens Lifesciences have fallen by about 68 percent. The continuous decline in these stocks related to healthcare and pharma has increased the concern of investors. The company’s share is currently trading at Rs 352 and the 52 week high of the share is Rs 1121.15.
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Reliance Power is also under heavy pressure and has fallen by about 63 percent from its highest level. The impact of instability in the power sector and challenges related to the company is clearly visible. The company’s share is currently trading at Rs 27.64 while the 52 week high of the share is Rs 76.49.
A decline of about 63 percent has been recorded in Tejas Networks. Slowness and global uncertainty in the tech and telecom equipment sectors are believed to be the reason for this. On Thursday, the company’s shares closed at Rs 333.30 with a decline of 1.70 per cent. In the last one year, the company’s shares have seen a decline of 59.42 percent. The 52 week high of the share is Rs 914.40.
Newgen Software has also declined by about 63 percent. The stock is under pressure due to cuts in client spending in the IT sector and the impact of AI. On Thursday, the company’s shares closed at Rs 507 with a decline of 5.05 per cent. In the last one year, the company’s shares have seen a decline of 48.60 percent. The 52 week high of the share is Rs 1377.15.
The company’s shares closed at Rs 351.30 on Thursday, down 1.53 per cent. The company’s shares have declined by 43.82 percent in the last one year.
Oswal Pumps has fallen nearly 60 percent from its 52 week high. The 52 week high of the company’s share is Rs 888.40.
Slowness of demand in the industrial and capital goods sector is being said to be the main reason for this.
Ola Electric, which was listed recently, is down about 56 per cent from its high. The effect of heavy volatility and profit booking after listing is clearly visible in this. The company’s shares closed at Rs 30.97 on Thursday with a decline of 1.43 per cent. The 52 week high of the company’s share is Rs 71.25.
The company’s shares closed at Rs 983.90 with a fall of Rs 2.80 on Thursday. In the last one year, the company’s shares have seen a decline of 33.47 percent. The 52 week high of the share is Rs 1645.80. The stock has fallen 40 percent from its 52 week high.
The company’s shares closed at Rs 1315 on Thursday with a decline of 5.23 per cent. In the last one year, the company’s shares have seen a decline of 40.70 percent. The 52 week high of the share is Rs 2937.60. The stock has fallen 55 percent from its 52 week high.
The company’s shares closed at Rs 773.05 on Thursday with a decline of 1.30 per cent. The 52 week high of the share is Rs 1600 and the share has fallen by about 51 percent from its 52 week high.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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