6 Stocks That Have Plunged More Than 80% From Highs

Markets have been buoyant over the last few weeks as investors continue to remain optimistic on inflation related data. Going ahead, future market movement would largely depend on where markets are headed going ahead.

PSU Banks continue to defy trend

According to Dr. Joseph Thomas, Head of Research, Emkay Wealth Management, " The equity indexes closed in the red after a day of volatile trading. The PSU Banks and Realty traded higher defying the trend for the day. What that markets would look forward to would be the developments Europe  and the statements from leading Fed officials on the future stance of the Fed. Though price pressures have ebbed, the retail inflation numbers are too high for the comfort of the central banks, especially in the US and India. At the same time, the prominent view is that probably inflation has peaked and that central banks might still hike rates but the quantum of hikes would be more moderate. Some signs of sluggishness in growth could set in soon due to the aggressive rate action in the last few months. Markets would focus on the actual numbers to get a sense of the trajectory of inflation and official policy as well."

Here are a list of stocks that have fallen more than 80% from 52-week highs.

GKP Printing & Packaging

The stock is down 87.35% from 52-week high levels of Rs 206.20 to the current levels of Rs 26.15.

Shubham Polyspin

This stock is down more than 87.61% from levels of Rs 286.45 to the current levels of Rs 37.25.

Gala Global Products

The stock has fallen from levels of Rs 104 to Rs 16.95, leading to a decline of nearly 83.70%.

Galactico Corporate

The shares of this company are down 81% to Rs 16.40 a piece.

VCU Data Management

The stock has dropped 86% and has now tuned into a penny stock. The shares last closed on the NSE at Rs 81.51.

Disclaimer

The stocks give details related to sharp fall from 52-week highs. It should not be construed as an opportunity to buy. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.