SUMMARY
From IndusInd Bank to Asian Paints and the Adani Twins, these are the top losers on the Nifty 50 index from the day it made its record high of 26,277 on September 27 last year.
1 / 9The Nifty 50 index has corrected 12% from its record high levels of 26,277, which it had hit on September 27. Since then, nearly two-thirds of the index has declined over 10%.
2 / 9Four Nifty constituents are down over 30% from the September 27 levels, while 12 stocks are down between 20% to 30%. 15 stocks have corrected between 10% to 20%. Let us take a look at these top losers:
3 / 9IndusInd Bank | The worst performer of the Nifty in 2024 is also the worst performer from the time the index made its record high. The stock is down 34% from September 27. However, it is bucking the trend today over a potential weightage increase in the MSCI indices. The stock may see inflows worth up to $300 million, according to analysts. Despite the underperformance, 36 out of the 50 analysts tracking the stock have a “buy” rating on it.
4 / 9Bajaj Auto | Among the outperformers in 2024, the two and three-wheeler giant has seen a sharp correction from its record high levels. Incidentally, the stock also made its record high of ₹12,774 on the same day the Nifty did on September 27. Since then, the stock has corrected 32%. Consensus currently implies a potential upside of 24% from current levels.
5 / 9Hero MotoCorp | If Bajaj shares have corrected, those of its peer Hero MotoCorp are not far behind. The stock is down 31% from September 27 and is the third worst performer on the index from the peak. Nearly 70% of the analysts tracking the stock have a “buy” rating on the same, with consensus implying a potential upside of 27% from current levels.
6 / 9Asian Paints | The rising competition in the paint industry has impacted its market leader the most. Shares of Asian Paints saw their worst calendar year returns on record in 2024 and have corrected 31% from September 27. Consensus is only projecting a potential upside of 9% from current levels.
7 / 9NTPC | The stock has declined 30% from the Nifty peak on September 27 and ranks among the worst PSU performers on the Nifty. Consensus is now implying a potential upside of 45% from current levels as majority of the analysts continue to maintain a “buy” rating on the stock.
8 / 9Coal India | India’s largest mining company has declined 29% from September 27 and also had an underwhelming year in 2024. Consensus currently implies a potential upside of close to 40% from current levels post this drop.
9 / 9Among other top losers on the Nifty 50 index since September 27, the Adani Twins of Enterprises and Ports feature in the list with a fall of 25% each, BPCL is down 26%, while Shriram Finance shares have corrected 26.5% from September 27.
