Shares of PB Fintech are down 28% on Thursday, September 24, marking their biggest single-day fall on record. The stock had gone public in 2021 and ha…
1/9Shares of PB Fintech are down 28% on Thursday, September 24, marking their biggest single-day fall on record. The stock had gone public in 2021. The stock has seen this sharp sell-off on the back of the IRDAI draft paper on distribution norms and analysts believe that PB Fintech is the most exposed to these draft regulations. The stock has wiped out over ₹30,000 crore in market capitalization and slumped to a 52-week low.
2/9However, this is not the first instance that a stock in India has seen such a sharp intraday fall. Others have had it far worse. Here’s a look back at the 10 biggest intraday falls seen by stocks in India.
3/9Yes Bank | The Mumbai-based private lender fell over 80% in a single session in March 2020 after the Reserve Bank of India superseded the bank’s board and imposed a moratorium with a ₹50,000 withdrawal cap. The fall wiped out over $1 billion in market value for the stock. After paring some losses, the stock closed over 50% lower on March 6, 2020.
4/9PC Jeweller | The stock fell as much as 60% in a single session on February 2, 2018 due to panic selling as a result of the Vakrangee crisis. Vakrangee had recently bought stake in PC Jewellers back then. After coming under SEBI scrutiny for price / volume manipulation, the stock saw a big fall. It eventually recovered from the lows of the session to end with losses of over 25%.
(Photo Credit : Reuters)
5/9Dewan Housing | Back on September 21, 2018, Dewan Housing, or DHFL bore the brunt of the system-wide liquidity panic as a result of the IL&FS default. The stock fell between 55% to 60% intraday before a slight recovery to end the session with losses of around 42%. The fall wiped out $1.45 billion in market capitalization that day.
6/9Indiabulls Housing Finance | Similar to DHFL, Indiabulls Housing also fell 34% intraday on September 21, 2018, falling to its lowest level since February 2017 and marked its worst intraday fall since its listing back in 2013.
7/9Zee Entertainment | On January 25, 2019, Zee Entertainment shares fell 33.5% in a single session after a news report alleged that Zee’s promoter Essel Group was linked to a demonetisation-era money movement probe. That was the worst intraday fall for the stock since its listing back in 1995. High promoter pledge further contribute to the share price fall. The company told investors in an earnings call later that the fall has nothing to do with the news report and legal proceedings were initiated against the said media house.
8/9Adani Enterprises | Back in February 2023, the flagship company of the Adani Group fell 28.5% in a single trading session after it withdrew its follow-on public offer worth over ₹20,000 crore, days after a Hindenburg Research report alleging accounting fraud and stock manipulation.
9/9Indian Energy Exchange | Shares of IEX, on July 24, 2025, fell as much as 28% in a single session after the power regulator Central Electricity Regulatory Commission (CERC) approved phased “market coupling” of India’s electricity markets starting January 2026, thereby threatening to erode IEX’s near-monopoly status on price discovery in spot power trading. That continues to remain an overhang on the stock, till date.