Independence Day Sale! 107 stocks down up to 84% from 52-week highs; should you grab any?

economictimes.indiatimes.com:

As many as 107 stocks in the BSE 500 index are trading atleast 20% down from their 52-week highs. Eight stocks have corrected more than 50% from their respective 52-week highs, and three of the biggest losers in this list are Adani Group firms — Adani Green Energy, Adani Energy Solutions, and Adani Total Gas. These stocks were down 62-84% from their 52-week highs.

While Adani Wilmar was down 55% from its 52-week high, Adani Power corrected more than 33%, and Adani Enterprises about 39%. Several pharmaceutical companies in the midcap space have been on a bear grip due to earnings growth concerns amid sharp price erosion in the US generics market and regulatory concerns. Shares of Biocon, Metropolis Healthcare, Laurus Labs, Gland Pharma, and Piramal Pharma have corrected 20-50% from their 52-week highs.

In the banking space, even though stocks both in the private and public sectors grabbed investor interest, there were a few names that failed to be attractive enough for investors to add them to their shopping bags. In the public sector space, shares of UCO Bank and Punjab & Sind Bank have corrected 24% and 26%, respectively, from their 52-week highs. Among private names, Bandhan Bank has corrected 28%, YES Bank by 31%, and City Union Bank by 37%.

Speaking about new-age consumer technology companies, while the segment has made a comeback in 2023, the recovery wasn’t broad-based. Shares of FSN E-Commerce, which runs the online beauty products retail platform Nykaa, are down more than 38% from their 52-week high, tested in August 2022. Similarly, Delhivery shares have corrected about 31% from their 52-week highs, tested in October 2022.What should investors do? In the last one month, while benchmark Sensex has corrected