These banking and financial stocks tanked over 50% from their 52-week highs

SUMMARY

Banking and financial stocks were under pressure on Wednesday, with Bank Nifty falling over 1 percent during the day. The banking and financial sectors have been under pressure since the IL&FS crisis last year. DHFL's recent defaults on payments for commercial bonds added to the negative sentiment for these stocks amid fears that it can expose Rs 1 trillion in borrowing to the risk of default. DHFL, Reliance Capital, Reliance Home Finance, Central Bank of India, and SREI Infrastructure Finance fell over 70 percent from their respective 52-week highs. Here are the banking and financial stocks that have fallen over 50 percent from their 52-week highs:

By CNBC-TV18Jun 12, 2019 5:13:32 PM IST (Updated)

Dewan Housing Finance Corporation Ltd. (DHFL): This stock fell over 86.5 percent from its 52-week high of Rs 690, it reached on September 3, 2018. However, the stock ended at Rs 93.05, up 3.45 percent for the day. The stock has fallen over 85 percent in the last one year and over 62 percent in 2019. The stock has been under pressure since it defaulted on payment of commercial bonds followed by a downgrade by Crisil and Icra.

Reliance Capital: The stock tanked 82.3 percent from its 52-week high of Rs 487.60, it hit on September 3, 2018. The stock ended at Rs 85.90, down 8.5 percent for the day. The stock has fallen over 80 percent in the last one year and over 62 percent in 2019. The company is in the process of reducing its debt in the current year. CARE rating downgraded the stock recently citing reduced fundraising ability amid defaults by its subsidiaries.

Reliance Home Finance: The stock fell 77.6 percent from its 52-week high of Rs 79.60, it touched on September 11, 2018. It ended 4.23 percent lower at Rs 17 per share on BSE today. The stock has fallen over 70 percent in the last one year and 59 percent in 2019.

Central Bank of India: The stock has fallen 72.3 percent from its 52-week high of Rs 84.45, it reached on June 12, 2018. It settled the day 1.9 percent lower at Rs 23.40 per share on BSE. The stock has tanked over 71 percent in the last one year and 36 percent in 2019.

Srei Infrastructure Finance: The stock has fallen 71.9 percent from its 52-week high of Rs 77, it scaled on June 21, 2018. It settled the day 1.4 percent lower at Rs 17 per share on BSE. The stock has tanked over 71 percent in the last one year and 40 percent in 2019.

YES Bank: The stock has fallen 66.6 percent from its 52-week high of Rs 404, it reached on August 20, 2018. It settled the day 3.3 percent lower at Rs 134.65 per share on BSE. The stock has tanked over 59 percent in the last one year and 26 percent in 2019.

Indiabulls Housing Finance: The stock has fallen 55.5 percent from its 52-week high of Rs 1,396.85, it touched on August 6, 2018. It settled the day 8 percent lower at Rs 621.15 per share on BSE. The stock has tanked over 49 percent in the last one year and over 27 percent in 2019. The recent downfall came after the chairman and board of directors were accused of financial fraud.

IIFL (Stock split to be factored): The stock fell over 54 percent from its 52-week high of Rs 332, it hit on August 20, 2018. The stock ended 5 percent lower at Rs 151.75 per share on BSE. The stock has fallen over 77 percent in the last one year and 69.5 percent in 2019.

Centrum Capital: The stock has fallen 53.4 percent from its 52-week high of Rs 61, it reached on June 25, 2018. It settled the day 0.2 percent lower at Rs 28.4 per share on BSE. The stock has tanked over 49 percent in the past year and 23.4 percent in 2019.

Religare Enterprises: The stock plummeted 51.6 percent from its 52-week high of Rs 53.75, it climbed on August 20, 2018. However, it settled the day 0.2 percent higher at Rs 26 per share on BSE. The stock has tanked over 51 percent in the last one year and 14.7 percent in 2019.