There have been some midcap stocks that have been wealth destroyers. Some of them are:
Some of the stocks have seen surprising stock movements. For instance, IOL Broadband - the 52-week high price for this stock was Rs 620 and now the stock is trading around Rs 102. This means almost 80% of the market cap has been shaved off. The company had issues around 10.8 lakh warrants at a price of around Rs 576. So this stock, whether the market goes up, recovers or there is a bear rally, this stock has seen lower circuits day by day.
Another stock is Prime Securities where the stock has seen a 52-week high price of around Rs 345 and now the stock is trading at around Rs 88. Again, this stock has seen around 70% shave. This company had issued around 10% of warrants to New Vernon Capital at a price of Rs 275 per share.
Jai Corp had seen a 52-week high of around Rs 1450 and now it's trading at around Rs 515. So it has seen around 50-60% shave-off in its market cap. This company had made a biggest news of a private equity investment in the secondary market when it had given around 11% equity at a price of around Rs 1076.
Another stock is Taneja Aerospace . The stock has come down from a level of around Rs 273 to Rs 108. That's around 50% shave-off from its market cap.
These stocks have been seeing lower circuits day by day.
