Vodafone Idea to Ola Electric: 5 Stocks That Have Fallen Over 60% from Their 52-Week Highs
The recent market correction has significantly impacted investor wealth, wiping out ₹90 lakh crore. In the last month, the NIFTY50 index registered its fifth consecutive monthly loss, marking its longest streak of declines since its inception.
Market Decline Overview
Indian equity markets are witnessing a partial recovery after a sharp selloff, which saw the NIFTY50 drop 14.34% from its all-time high of 26,277.35, while the SENSEX declined 13.73%. Several factors contributed to this downfall, including sluggish earnings growth by Indian companies and concerns over the impact of US tariffs on market sentiment.
Here are five stocks that have declined over 60% from their 52-week highs:
Ola Electric: 70.22% Decline
Ola Electric, a newly listed electric two-wheeler manufacturer, has witnessed a staggering 70.22% drop from its 52-week high of ₹157.40 on August 20, 2024, to a record low of ₹46.91 on March 17, 2025.
- The stock faced heavy selling pressure after the company revealed that an insolvency petition was filed against its subsidiary, Ola Electric Technologies Private Limited, by Rosmerta Digital Services Limited before the National Company Law Tribunal (NCLT), Bengaluru Bench.
- Additionally, the company’s net loss widened in the December quarter, increasing to ₹564 crore from ₹376 crore in the same period last year.
Vodafone Idea: 64% Decline
Vodafone Idea, India’s third-largest telecom operator, has seen its stock plunge 64% from its 52-week high of ₹19.18 on June 28, 2024, to ₹6.94 on March 17, 2025.
- The stock faced downward pressure following reports that the company failed to receive government relief regarding a ₹6,090 crore bank guarantee, which it was required to submit the previous week.
- The Department of Telecommunications had earlier mandated Vodafone Idea to provide a bank guarantee for the spectrum acquired post-2015.
Whirlpool of India: 62% Decline
Shares of Whirlpool of India, a leading home appliances manufacturer, have dropped 62% from their 52-week high of ₹2,450, falling to ₹943 on March 17, 2025.
- The decline began after its parent company, Whirlpool Corporation, announced on January 30 that it plans to reduce its stake in the Indian unit from 51% to about 20% by mid-to-late 2025.
- The planned divestment triggered a selloff, leading to a steep fall in stock value.
Jupiter Wagons: 61% Decline
Shares of Jupiter Wagons, a railway wagon manufacturer, have dropped 61% from their 52-week high of ₹748 on July 5, 2024.
- Analysts attribute the decline to high valuations and the lack of capital expenditure announcements for the railway sector in the Union Budget.
- The stock was previously trading at a price-to-earnings (P/E) ratio of 90 times, but this has now come down to 32.50 times due to valuation concerns.
IRCON International: 60% Decline
IRCON International, a government-owned construction company specializing in transport infrastructure, has seen its shares drop 60% from their 52-week high of ₹351.60 in July 2024.
- The decline was primarily driven by a sharp drop in profits for the December quarter. The company’s net profit fell 65% from ₹245 crore in the previous year to ₹86 crore in the latest quarter.
- Its operating revenue also declined by 12%, from ₹2,929.54 crore to ₹2,612.86 crore.
However, the stock rebounded by 8.10% on Tuesday after the company announced that its joint venture with Badri Rai and Company had won a ₹1,096 crore contract from the Directorate of Urban Affairs, Meghalaya for constructing a new secretariat complex.
The stock market correction has led to a massive decline in investor wealth, affecting several stocks across sectors. Companies like Ola Electric, Vodafone Idea, Whirlpool of India, Jupiter Wagons, and IRCON International have suffered significant losses due to regulatory challenges, weak earnings, and valuation concerns. Investors should carefully analyze these stocks and consult financial advisors before making investment decisions.
Disclaimer: The above article is for informational purposes only and should not be considered investment advice. The stocks mentioned are illustrative and not recommendations. Investors should consult their financial advisors before making any investment decisions.
