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  5. Vodafone Idea to Ola Electric: 5 stocks that are down over 60% from 52-week highs

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Vodafone Idea to Ola Electric: 5 stocks that are down over 60% from 52-week highs

Abhishek Vasudev.jpg
By Abhishek Vasudev

3 min read | Updated on March 17, 2025, 19:03 IST

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SUMMARY

The ongoing correction has wiped out ₹90 lakh crore of investor wealth. Last month, the NIFTY50 index dropped for the fifth straight month, marking its longest spell of monthly losses since inception.

Stock list

IDEA
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IRCON
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Ola Electric shares have tumbled a whopping 70.22% from a 52-week high of ₹157.40.

Ola Electric shares have tumbled a whopping 70.22% from a 52-week high of ₹157.40.

The Indian equity benchmarks are going through a phase of correction with NIFTY50 index down 14.34% from its record high of 26,277.35 and SENSEX down 13.73%. The factors driving this decline include weak earnings growth reported by Indian companies and worries over US tariffs impacting the sentiment for equities. The ongoing correction has wiped out ₹90 lakh crore of investors’ wealth. Last month, the NIFTY50 index dropped for the fifth straight month, marking its longest spell of monthly losses since inception.

Here are five stocks that have fallen over 60% from 52-week highs.

Ola Electric: Shares of the newly listed electric two-wheeler maker have tumbled a whopping 70.22% from a 52-week high of ₹157.40 it touched on August 20, 2024, to record low of ₹46.91 on Monday, March 17.

The stock came under heavy selling pressure after it informed exchanges over the weekend that an operational creditor, Rosmerta Digital Services Limited, to its subsidiary Ola Electric Technologies Private Limited has filed an insolvency petition against the company before the Bengaluru Bench of the National Company Law Tribunal.

Meanwhile, Ola Electric's loss in the December quarter widened to ₹564 crore from ₹376 crore in the year-ago period.

Vodafone Idea: Shares of the country's third largest wireless telecom operator have plunged 64% from its 52-week high of ₹19.18, it touched on June 28, 2024, to ₹6.94 on Monday, March 17. The stock has been facing selling pressure after a report by CNBC TV18 suggested that it has not received any relief from the government regarding the ₹6,090 crore bank guarantee that was needed to be submitted by it last week.

The telecom department had asked Vodafone Idea to submit a bank guarantee for spectrum that it had acquired after 2015.

Whirlpool of India: The leading appliance maker's shares have dropped 62% from their 52-week high of ₹2,450 to ₹943 on Monday. The stock has been facing selling pressure after its parent company, Whirlpool Corporation, on January 30 announced plans to reduce its stake in the Indian unit to about 20% by mid-to-late 2025, down from 51% at present.
Jupiter Wagons: The shares of the wagon maker have dropped 61% since July 5, 2024, when it touched 52-week high of ₹748. Analysts say high valuations and lack of capital expenditure-related announcements in the Union Budget are leading to fall in railway shares. Jupiter Wagons shares were trading at a price-to-earnings (P/E) ratio of 90 times in July and now they are trading at a P/E ratio of 32.50 times.
IRCON International: Shares of the government-owned turnkey construction company specialising in transport infrastructure have dropped 60% from its 52-week high of ₹351.60 it touched in July last year.

The stock came under selling pressure after it reported a sharp decline in December-quarter profit. The company reported a net profit of ₹86 crore in the third quarter of the current financial year, marking a decline of 65% from ₹245 crore in the same period last year.

Its revenue from operations declined 12% to ₹2,612.86 crore from ₹2,929.54 crore in the year-ago period.

Disclaimer: The above article is only for informational purposes and should not be considered investment advice from Upstox. The stocks and securities mentioned are illustrative and not recommendations. Investors should consult with their financial advisors before investing.
Upstox

About The Author

Abhishek Vasudev.jpg
Abhishek Vasudev is a business journalist with over 14 years of experience covering business and markets. He has worked for leading media organisations of the country.

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