Bruised Blue Chips: 11 stocks, including Adani and DMart, plunge 30-80% from 5-year highs
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Stock Woes
While the current markets could be in an elevated state, Motilal Oswal has identified 11 stocks that are down between 30% and 80% from their 5-year highs. Referring to them as “bruised blue chips”, the brokerage sees this as a meaningful fall. The calculation is made on the basis of price recorded on November 28, 2024. In its 29th Annual Wealth Creation Study, 2024, it said that such bruising offers a golden opportunity to build large positions in the stocks.
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Adani Total Gas
This stock is down 80% from its 2020-24 high price of Rs 3,998 and is currently trading around Rs 803. The price was recorded on November 28, 2024.
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Adani Green
This stock is down 64% from its 2020-24 high price of Rs 3,048 and is currently trading around Rs 1,088.
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Adani Enterprises
This stock is down 42% from its 2020-24 high price of Rs 4,190 and is currently trading around Rs 2,437. The price was recorded on November 28, 2024.
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Gujarat Gas
This stock is down 40% from its 2020-24 high price of Rs 787 and is currently trading around Rs 472.
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SBI Cards and Payment Services
This stock is down 39% from its 2020-24 high price of Rs 1,165 and is currently trading around Rs 714.
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Tata Elxsi
This stock is down 37% from its 2020-24 high price of Rs 10,760 and is currently trading around Rs 6,755.
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Avenue Supermarts
The DMart stock is down 37% from its 2020-24 high price of Rs 5,900 and is currently trading around Rs 3,712. The price was recorded on November 28, 2024.
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IRCTC
Indian Railway Catering And Tourism Corporation (IRCTC) stock is down 36% from its 2020-24 high price of Rs 1,279 and is currently trading around Rs 814. The price was recorded on November 28, 2024.
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Berger Paints
This stock is down 33% from its 2020-24 high price of Rs 727 and is currently trading around Rs 489. The price was recorded on November 28, 2024.
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Asian Paints
This stock is down 32% from its 2020-24 high price of Rs 3,590 and is currently trading around Rs 2,459. The price was recorded on November 28, 2024.
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IOCL
Indian Oil Corporation (IOC) shares are down 30% from its 2020-24 high price of Rs 197 and are currently trading around Rs 138. The price was recorded on November 28, 2024.