Defence stock hits four straight lower circuits after 497% surge
In short
A defence stock hit four straight lower circuits after rising 497% in the past year, Mint said, citing BSE data. The same stock hit a 52-week high of ₹1,165 on 6 October and a 52-week low of ₹139.30 on 16 March this year.
The report does not name the company or say why the selling started. Investors still do not know whether the fall is tied to news, profit-taking, or something else.
What the reporting says
A defence stock hit four back-to-back lower circuits after soaring 497% over the past year, according to BSE data cited by Mint. The stock reached a 52-week high of ₹1,165 on 6 October and a 52-week low of ₹139.30 on 16 March this year. The reporting does not name the company or explain the trigger for the selloff.
Why it matters
This is a sharp market reversal in an unnamed defence stock after a very large one-year rally. The BSE data cited by Mint shows a 497% gain over the last year, followed by four consecutive lower circuits. The immediate market implication is heavy selling pressure and possible volatility in defence-related shares, but the company and catalyst are not identified.