Stock Crash: Recent listing extends two-day drop to 33% after Q4 results

Shares of Jain Resource Recycling Ltd. are down another 18% on Tuesday, May 18, extending Monday's 18% drop in response to its fourth quarter results.

With this, the stock is down over 33% across Monday and Tuesday, extending their losses from 52-week highs, which it had surged to on May 8.

Jain Resource Recycling In Q4

For the March quarter, Jain Resource Recycling reported 76.4% growth in its revenue at ₹3,104.9 crore for the March quarter. Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 17.3% to ₹110 crore.

EBITDA margin though, narrowed to 3.5% from 5.3% earlier, on account of higher expenses.

Jain Resource Recycling As A Stock

Jain Resources Recycling had made their stock market debut back in October 2025, listing at a 14% premium to its issue price of ₹232 apiece.

At its 52-week high, the stock had more than doubled from its issue price, gaining over 150%.

The ₹1,250 crore IPO of the company was subscribed nearly 10x the total number of shares on offer.

Price Volume Action

As many as 1.8 crore shares of the company have changed hands on Tuesday so far as of 12:30 PM, significantly higher than the 20-day average of 17 lakh shares that are traded at this time of the day.

Brokerage firm Motilal Oswal though, has maintained its "buy" rating on the stock with a price target of ₹560. 360 Capital Markets has a "hold" rating with a target of ₹418.

Shares of Jain Resource Recycling are trading 18% lower on Tuesday at ₹381.5. The stock is still above its issue price of ₹232.