Even because the benchmark equity indices currently trade round file highs, there are lots of stocks which caught investor fancy of their heyday, but have on account that fallen to nearly a 10th of their peak values. Mounting debt, rising defaults, and corrupt management practices have marred the chances of those shares, leading to losses for traders. Here are nine stocks that were investor darlings as soon as, but have been inside the information currently for all the wrong reasons.
Shares of Anil Ambani-led Reliance Infrastructure fell from an all-time high of Rs 2,486.05 in January 2008 to Rs 56.50 as of Monday’s close on BSE, implying a fall of 98 consistent with cent. The scrip is in a free fall ever since the auditors raised questions on the enterprise’s potential to maintain in business. It additionally posted its biggest-ever loss on impairments for subsidiaries in Q4FY19.
Shares of another Anil Ambani business enterprise Reliance Communications declined from a file excessive of Rs 792.30 in January 2008 to Rs 1.25 as of Monday’s close on BSE, implying a fall of 99 percent. The inventory is beneath selling stress over debt issues across the organization and its organization peers.
Shares of Dewan Housing Finance Corporation (DHFL) dropped from an all-time excessive of Rs 665.80 in November 2017 to Rs seventy eight.75 as of Monday’s close on BSE, implying a fall of 88 consistent with cent. The stock of mortgage financier is below pressure after it defaulted on debt payments this 12 months. Even home score businesses Icra and Crisil downgraded the inventory score.
Shares of Jet Airways dropped from an-all time excessive of Rs 1,340.70 to Rs seventy-three.20 as of Monday’s close on BSE, implying a fall of ninety-four consistent with cent. The scrip is on the decline after the enterprise halted its operations owing to the economic crisis, and the NCLT admitted it for insolvency complaints.
Shares of Jaiprakash Power Ventures Ltd fell from a report excessive of Rs 137 on four January 2008 to Rs 2.04 as of Monday’s close on BSE, implying a fall of 98 percent. The shares had been under stress attributable to dismal economic overall performance and increased debt degrees.
Shares of PC Jeweller dipped from an all-time high of Rs 586.Forty-five on 19 January 2018 to Rs 49.Seventy-five as of Monday’s near on BSE, implying a fall of ninety-one in keeping with cent. The stocks are under pressure after the firm suggested a net loss for the duration of the fourth region of FY19 attributable to a loss in commercial export enterprise. Even CRISIL and CARE Ratings revised their scores to the company’s financial institution loan centers and fixed deposit program.
Shares of IL&FS fell from an all-time high of Rs 358.45 on 9 September 2010 to Rs 2.Seventy five as of Monday’s close on BSE, implying a fall of 99 percent. Debt default and liquidity disaster on the infrastructure and finance employer have put the shares beneath strain for someday now.
Shares of J&K Bank dropped from Rs 187.29 on 23 May 2014 to Rs 44 as of Monday’s near on BSE, implying a fall of seventy-five according to the cent. The agency is underneath strain after Jammu and Kashmir government had commenced investigations in opposition to the previous J&K Bank chairman on corruption allegations.