Not Just Adani stocks, these other 15 BSE500 firms also declined more than 50% from one-year highs; do you own any?

Highlight: 1. Data available from Ace equity showed that in the BSE 500 index, there are as many as 10 stocks that have plunged 60 per cent to 80 per cent from their one-year highs.

2. There are a total of 154 stocks in the BSE 500 index which have plunged at least 30 per cent from their respective one-year highs.

3. Adani Enterprises is ranked the sixth biggest wealth destroyer as the share slumped 66.5 per cent to Rs 1,404.85 on February 22, 2023, from a year high of Rs 4,189.55

Shares of the Adani group of companies have crashed up to 82 per cent from their respective 52-week high levels so far. On the other hand, the benchmark equity index BSE Sensex has retreated 6 per cent to 59,744.98 on February 22, 2023, from its one-year high of 63,583.07, scaled on December 01, 2022. A couple of factors including the ongoing war between Russia and Ukraine, sustained outflows by foreign institutional investors, rising interest rates, and a steep fall in Adani group stocks have weighed market sentiment in the recent past. As a result, many such stocks which were called the biggest wealth creators for investors in the past years have now turned biggest wealth destroyers here is the full list.

Shares of Adani Green Energy tanked 82.3 per cent to Rs 539.3 as on February 22, 2023, from its 52 weeks high price of Rs 3,048. It was followed by another Adani group company Adani Transmission which has declined 81.4 per cent to Rs 788.75 from its one-year high of Rs 4238.5.

With a fall of 79.10 per cent, Adani Total Gas is in the third spot. It was followed by Brightcom Group with a decline of 78.1 per cent to Rs 23.75 from 52 weeks high of Rs 108.45 and Tata group company Tata Teleservices (Maharashtra) which has slipped 73 per cent to Rs 57.3 from the peak price of Rs 210.

Adani Enterprises is ranked the sixth biggest wealth destroyer as the share plunged 66.5 per cent to Rs 1404.85 on February 22, 2023, from a year high of Rs 4189.55. Gland Pharma (down 62.8 per cent from year high price), Alok Industries (down 62.7 per cent), Adani Power (down 62.4 per cent), and TV18 Broadcast (down 61.3 per cent) are among major losers in the list. Overall, as many as 10 stocks in the BSE 500 index have plunged somewhere between 60 per cent and 80 per cent from their respective highs.

On the other hand, 11 stocks in the BSE 500 index have witnessed a fall in a range of 50 per cent to 60 per cent. Some of the stocks in the list included TV18 Broadcast, Mangalore Refinery and Petrochemicals, Indiabulls Real Estate, Privi Speciality Chemicals, Adani Wilmar, FSN E-Commerce Ventures (Nykaa), HLE Glascoat, Intellect Design Arena, Amber Enterprises India, Delhivery and Mastek. There is a total of 154 stocks from the BSE 500 index which is at least 30 per cent down from their respective one-year highs.

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