Wealth Destroyers of 2023: These 7 stocks eroded 80-95% investor wealth this year
White Organic Retail: In 2023, White Organic Retail witnessed a sharp 95 percent plunge, with its stock price nosediving from ₹151.8 to ₹7.5 per share since the year's commencement. The stock has given negative returns in 9 of the 12 months this year, declining the most in Feb, down over 56 percent. White Organic Retail Limited engages in the trading and retail sale of organic products in India.
It primarily trades in a range of agriculture produce, such as cereals, pulses, grains, fruits, vegetables, processed foods, cooking oils, spices, snacks, dietary supplements, etc. under the White Organic brand name. Karnavati Finance: The stock has crashed 89 percent in 2023 YTD, declining from ₹17.2 to ₹1.9 this year.
It gave negative returns in 8 of the 12 months in 2023, shedding the most in March, down 62 percent. Karnavati Finance Limited, a non-banking finance company, provides various financial services in India. The company offers personal loans, business loans, gold loans, project loans, vehicle loans, and loans against property to individuals.
Penta Gold: The stock has shed 88.5 percent in 2023 YTD, giving negative returns in all 12 months of the year. It fell from ₹48.85 in December last year to currently trade around ₹5.6. It declined the most in August this year, down over 45 percent.
The company is into the business of manufacturing and trading business of branded gold jewelry and ornaments. Sel Manufacturing Co: The stock has tanked 88 percent in 2023 YTD, giving negative returns in 9 of the 12 months of the year. It fell from ₹613.9 in December last year to currently trade around ₹75.
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