These 7 recently listed IPO's tank up to 64% from their 52-week highs

Concord Enviro, DAM Capital, Godavari Bio, JNK India, One Mobikwik, Stallion India and Unicommerce saw their market value decline between 47% - 64%, from respective 52-week highs.

An ongoing correction in the equity market has seen the market price of seven recently-listed initial public offering (IPOs) tank by up to 64 per cent from their respective 52-week highs.

 

Concord Enviro Systems, DAM Capital Advisors, Godavari Biorefineries, JNK India, One Mobikwik Systems, Stallion India Fluorochemicals and Unicommerce Esolutions saw their market value decline between 47 per cent and 64 per cent, from their respective 52-week highs.

 

The market is facing headwinds from relentless foreign institutional investors (FIIs) selling and global uncertainties owing to Trump tariffs.

 

In the US, long-term inflation expectations are rising and, therefore, the expected rate cut by the Fed is unlikely to materialise. The Fed might even turn hawkish, impacting US stock markets. If this happens and the US bond yields start declining, FIIs may cease to be sellers in India and may even resume buying. The near-term scenario is highly uncertain, said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

 

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“The positive factor in our market is that the valuations of largecaps have turned fair and in certain segments like financials attractive, giving opportunities for long-term investors to buy. Even though the broader market valuations continue to be high, there are opportunities to select stocks in this segment,” said Dr. V K Vijayakumar.

 

Of these One Mobikwik Systems (up 5 per cent) and Unicommerce Esolutions (up 4 per cent) were trading higher against their respective issue price. The remaining five stocks were trading lower in the range 18 per cent to 54 per cent against the issue price.

 

Among individual stocks, Concord Enviro Systems hit a new low of Rs 433.15, down 7 per cent on the BSE in Monday’s intra-day trade. The stock has corrected 50 per cent from its 52-week high of Rs 859.95 touched on December 27, 2024. Currently, Concord Enviro Systems was trading 38 per cent below its issue price of Rs 701 per share.

 

Concord Enviro Systems is a global water and wastewater treatment and reuse solutions provider, including zero-liquid discharge (ZLD) technology. The company offers in-house solutions across the entire value chain, including design, manufacturing, installation, operation and maintenance (O&M), and digitalization, such as IoT. The company provides integrated wastewater treatment and zero liquid discharge (ZLD) solutions, focusing on energy optimization and recovery to aid industries in achieving water conservation and sustainability goals.

 

For the October to December quarter (Q3FY25), the company reported a consolidated net loss of Rs 8.56 crore as against a profit after tax (PAT) of Rs 18.58 crore in Q3FY24 and Rs 17.3 crore in Q2FY25. Revenue from operations remained flat at Rs 123 crore for the quarter.

 

Shares of JNK India slipped 7 per cent to hit a new low of Rs 320.05 in intra-day trade today. The stock price of one of the leading heating equipment companies in India has corrected 64 per cent from its 52-week high of Rs 895.40 touched on June 24, 2024. Currently, JNK India trades 23 per cent below its issue price of Rs 415 per share.

 

For Q3FY25, the company reported a 90.5 per cent year-on-year (YoY) decline in its consolidated PAT at Rs 2.84 crore as against a profit of Rs 29.9 crore in Q3FY24. Revenue from operations was down 19.6 per cent YoY at Rs 96.9 crore for the quarter.