Diwali sale or trap? 12 stocks crash at least 40% after giving multibagger returns
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Reminding investors of the iron rule of mean reversion in financial markets, 12 stocks like Cochin Shipyard, HUDCO and Bharat Dynamics have crashed at least 40% from their 52-week high levels after giving multibagger returns in the last one year. A study of all BSE-listed stocks with a market capitalization of at least Rs 1,000 crore throws up a list of 115 stocks that have fallen at least 40% from peaks. Out of them, there are at least 12 recent multibaggers that are having a tough time now. Defence PSU stock Cochin Shipyard, the shares of which have fallen 54% from peak, are still up 176% in the last one year. Waaree Renewable Technologies, which was in focus recently as its group company Waaree Energies got listed on stock exchanges on Monday, has lost almost 53% of its value. The solar play remains a four-bagger in the last 12 months. Other stocks in the list include PSUs like HUDCO, Bharat Dynamics and IFCI and private players like U...