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IEX Share Crash: From Paytm to Adani Enterprises and Zee Entertainment, these stocks have seen the biggest single-day drop in the last five years.
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Shares of Indian Energy Exchange (IEX) fell 30% on Thursday, July 24, marking its biggest single-day drop on record. This came after the CERC approved the implementation of the market coupling norms from January 2026. Brokerages like Bernstein have cut their targets on the stock. Here's a look back at stocks that have seen similar one-day declines over the last five years.
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Zee Entertainment | The stock fell 32% on January 23, 2024, which is the day when it had called off its planned $10 billion mega merger with Sony.
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Adani Enterprises | Flagship company of the Adani Group fell over 28% on February 1, 2023 after calling off its mega ₹20,000 crore Follow-on Public Offer (FPO), post the Hindenburg report going public, leading to a sharp erosion of value in all group companies. Majority of those companies have recovered most of those losses since then.
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IndusInd Bank | Shares of the private lender fell 27% on March 11 this year, marking the biggest single-day fall that the stock has had on record. The fall came after discrepancies were disclosed in the bank's derivatives portfolio. The stock fell to a 52-week low but has since recovered from those levels.
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Paytm | The stock had its biggest fall on the day of its listing, when it fell 27% on November 18, 2021. The stock listed at a discount to its IPO price and has since, not seen those levels again. However, the stock has seen a significant run-up recently, closing at a 52-week high on Thursday, but remains below its issue price.
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REC & PFC | REC shares fell 25%, while PFC fell 23% in a single day on June 4, 2024, which was the day the Lok Sabha Election results were declared. Not just REC & PFC, most state-run companies and taken a knock between 10% to 20% that day.
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Cyient | The stock fell 23% in January this year after it cut its revenue growth and margin guidance after its quarterly results, resulting in the stock tanking during the trading session.
