5 Stocks That Have Dropped More Than 40% From 52-week Highs

Even as the Sensex is back above the 59,000 points mark, we see many company stocks languishing. Here is a list of 5 stocks that are down more than 40% from 52-week highs:

Mehta Housing

The shares of Mehta Housing had hit a 52-week high of Rs 317 on the BSE. The shares have now dropped sharply by 71% to Rs 91.

The company is a provider of finance to builders and developers selectively. Its goal is to provide a superior customer experience and tremendous value for our customers. The company is mandated to provide long-term Housing Finance to purchase or construct houses/flats for individuals.

Wipro Limited

The stock of Wipro Limited had hit its 52-week high of Rs.739.85 on the BSE. The shares have dropped sharply by 45.26% to Rs 405, and now it is trading near its 52-week low of Rs 391.00.

Wipro is a leading multinational company that provides consulting, information technology and business process services worldwide. The company has clients in over 66 countries, and it helps businesses with 250,000 dedicated employees. Wipro had a revenue of 10.4 billion in the financial year 2022.

Naukri.com (Info Edge)

The stock of Naukri had hit its 52-week high of Rs. 7465.4 on the BSE. The shares have dropped sharply by 43% to Rs 4254.

Info Edge is the leading recruitment business in India. Not only recruitment, but the company has also classified companies in matrimony, real estate, related services, and education sectors. In FY21, the company had a revenue of Rs. 800.3 Cr, and in the financial year 2022, the company had revenue of 1154.2 Cr.

Vedanta Limited

The stock of Vedanta Limited had hit its 52-week high of Rs. 440.75 on the BSE. The shares have dropped sharply by 41% to Rs 259.60.

Vedanta Limited is a multinational mining company, and the leading operators of the company are Iron ore, gold, silver, and aluminium mines. A multinational natural resource company, Vedanta Ltd. is involved in the exploration, extraction, and processing of oil & gas and minerals. Other businesses include steel manufacturing, port operations, and commercial power generation.

Indian Energy Exchange (IEX)

The stock of the Indian Energy Exchange had hit its 52-week high of Rs. 318.67 on the BSE. The shares have dropped sharply by more than 49% to Rs 259.60, trading near its all-time low.

Indian Energy Exchange is a Power exchange company. The business has a licence from the Central Electricity Regulatory Commission (CERC) for spot trading in electricity or power and renewal of energy certificates (RECs). The company's core service provides an automated platform or infrastructure for physically exchanging electric power.