How long lower circuit of stock can go?

General
1

Today, I was looking at the IRCTC stock. Here is what I observed.

28-10-2021 - Closing Price: 913.50

29-10-2021:
Open at 822.15 (i.e., 10% fall - 913.5 * 0.9)

Lower circuit is 822.15 and upper circuit is 1004.85

After 10-15 minutes,

Trading at 776.5 ( i.e., 15% fall - 913.5*0.85)

Lower circuit modified as 776.5 and upper circuit is 1004.85.

After 10-15 minutes,

Trading at 730.8 ( i.e., 20% fall - 913.5*0.8)

Lower circuit modified as 730.8 and upper circuit is 1004.85.

After 10-15 minutes,

Trading at 685.125 (i.e., 25% fall - 913.5*0.75)

Lower circuit modified as 685.125 and upper circuit is 1004.85.

and then it started picking up the price.

Observation is that the lower circuit gets reduced to 5% after sometime (when stock hits its lower circuit).

My question here is:

How long can the lower circuit be reduced. Can it go until the stock price becomes 0 (theoretically)?

Or Is there any limit that says the price can’t go more than 25% or 30% or something like that?

2

For F&O stocks, there is a temporary freeze but the price can keep going lower. The first freeze is at 10% and then subsequently, at every 5%.

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3

Theoretically yes. It can keep on reducing till it reaches 0. But

Practically, it is stock exchange’s decision so I doubt they will allow it to go to zero in single day. Might do it over couple of days. Also, at some point buyers will start coming in and price will stabilize at some non-zero point.