Adani Group, Nykaa: These 25 BSE 500 stocks are down between 30%-85% from their 52-week high levels

Even as the BSE500 is hovering near 52-week high levels, 25 stocks in the index have plunged between 30 per cent and 80 per cent so far from their respective 52-week highs. With a fall of 84.20 per cent, Adani Total Gas emerged as the top loser. Its shares traded at Rs 633.60 apiece on September 5 against a 52-week high of Rs 3,998.35.

Other Adani Group firms—Adani Energy Solutions, Adani Green Energy and Adani Wilmar—declined 80.80 per cent, 60.50 per cent and 58.40 per cent, respectively, from their respective 52-week highs. In comparison, the benchmark BSE Sensex has declined 2.7 per cent from its 52-week high level of 67,619.17, scaled on July 20. The broader BSE 500 index scaled its 52-week high levels of 27,373 on September 5, 2023.

KRChoksey Research last month retained a ‘Buy’ rating on Adani Wilmar with a target price of Rs 471. Shares of the company traded at Rs 350 on September 5.

Sharing his views on the broader markets, Vinod Nair, Head of Research at Geojit Financial Services, said, “India is now more of a stock-to-sector play. We anticipate that the category as a whole will outperform in the medium to long term. Small-caps appear to be even more attractive than mid-caps in the current scenario. However, considering the overall market consolidation, it’s not an ideal environment for investing in high-risk categories, leading to mixed opinions.”

Data further highlighted that Campus Activewear, Rajesh Exports, Piramal Pharma, Easy Trip Planners, Polyplex Corporation, Aarti Industries, Balaji Amines, Deepak Fertilisers And Petrochemicals Corporation, Uflex, FSN E-Commerce Ventures and Adani Enterprises have also retreated between 40 per cent and 54 per cent from their 52-week high levels. JM Financial is bullish on FSN E-Commerce Ventures (Nykaa) with a target price of Rs 210.

“Age group of 33-37 years showed the highest propensity to spend on BPC due to higher dispensable income as well as early signs of ageing. Nykaa remains the go-to BPC platform with Nykaa shoppers also spending significantly higher and transacting across a greater number of categories,” JM Financial said in a report.

Among the other major losers, shares of Quess Corp,  City Union Bank, Aditya Birla Fashion and Retail, Blue Dart Express, Tata Teleservices (Maharashtra), Fine Organic Industries, Gland Pharma, Sheela Foam, V-Mart Retail and Aavas Financiers have also declined somewhere between 30 per cent and 40 per cent from their respectively 52-week high levels.

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