Shares of Jain Resource Recycling are down 18% on Tuesday, May 18, extending Monday's 18% drop in response to its fourth quarter results. According to reports from CNBC TV18, this brings the total decline to over 33% across Monday and Tuesday, significantly extending losses from the stock's 52-week highs reached on May 8. The stock was trading at ₹381.5 as of Tuesday's session, remaining above its issue price of ₹232.
For the March quarter, Jain Resource Recycling reported 76.4% growth in revenue at ₹3,104.9 crore for the March quarter. As reported by CNBC TV18, the company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 17.3% to ₹110 crore. However, EBITDA margin narrowed to 3.5% from 5.3% earlier, attributed to higher expenses during the quarter.
Jain Resource Recycling made its stock market debut in October 2025, listing at a 14% premium to its issue price of ₹232 apiece. According to CNBC TV18, at its 52-week high, the stock had more than doubled from its issue price, gaining over 150%. The ₹1,250 crore IPO was subscribed nearly 10x the total number of shares on offer, indicating strong investor interest in the recycling company.
As reported by CNBC TV18, 1.8 crore shares of the company changed hands on Tuesday as of 12:30 PM, significantly higher than the 20-day average of 17 lakh shares traded at this time of the day. Despite the recent decline, brokerage firm Motilal Oswal has maintained its 'buy' rating on the stock with a price target of ₹560. 360 Capital Markets has assigned a 'hold' rating with a target of ₹418, indicating mixed analyst sentiment on the stock's near-term prospects.
