Indian shares ended with deep cuts on Friday tracking weak global cues with IT and financial shares being the biggest drags on benchmark indices. Sectoral gauges for both — Nifty IT and Bank — fell 2 percent each. Year-To-Date (YTD), both Nifty50 and Sensex have fallen about 7 percent. Overall BSE companies erased market cap of more than Rs 3 lakh crore in Friday's trade.

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Here's a list of stocks that have fallen more than 25 percent in 2022 so far:

1. One 97 Communications (Paytm) |

Shares of the fintech firm that owns Paytm has nosedived 55 percent so far in 2022. The fall in Paytm share price has also come on the back of regulatory concerns in addition to skepticism about Paytm's ability to be profitable in the foreseeable future, due to which analysts had suggested staying on the sidelines earlier. JP Morgan has maintained its 'overweight' call on Paytm shares with a cut in target price to Rs 1,000 from Rs 1,200.

2. Zomato The food aggregator's share price has tanked 52 percent YTD amid investors' mixed views on assigning a value to a company that is yet to see profits. Morgan Stanley is 'overweight' on Zomato shares with a target price of Rs 135.

3. Wipro The IT major's stock has slumped 36 percent in 2022 so far. Brokerages remain overall cautious on the sector amid the 'Great Resignation' and sharp jump in employee costs. Experts had also highlighted that the sector was in a deep bear zone due to fears of slowing global growth which would also affect IT spending. Nirmal Bang Institutional Equities has maintained its 'accumulate' rating with a target price of Rs 501 while CLSA had, in January, maintained its ‘underperform’ rating and trimmed its target price on the stock to Rs 700 from Rs 720.

4. Tech Mahindra | The Mahindra group's tech major has plummeted 38 percent YTD amid worries that it would be more vulnerable given the challenging demand environment and fears on margin front. Morgan Stanley has maintained its 'overweight' rating on shares of Tech Mahindra with a target price of Rs 1,650, down from Rs 1,800.

5. Larsen & Toubro Infotech | The technology company's shares have fallen about 43 percent in 2022 so far. Concerns over growth slowing in the sector and IT spending getting impacted have driven several IT stocks to correct. Analysts see rising onsite attrition to be a key challenge for the company in the near-term while revenue growth could also be slower than planned. Goldman Sachs has maintained its 'sell' rating on shares of the IT firm with a target price of Rs 4,570.

First Published:Jun 10, 2022 5:55 PM IST