In 2023, despite the overall positive performance of the Indian market, many stocks experienced a staggering decline of up to 95 percent, resulting in substantial losses for investors.
Most of these stocks are classified as penny stocks. Such stocks tend to attract investors with their low investment thresholds and the allure of high-profit possibilities. However, caution is strongly recommended when dealing with such stocks, given the inherent risks and the difficulty in identifying viable options.
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. It declined the most in Feb this year, down 50.69 percent. SEL Manufacturing Company Limited engages in the manufacturing and processing of textile products in India and internationally. Its products portfolio includes knitted garments, terry towels, knitted and processed fabrics, and various kinds of yarn, as well as ready-made garments.
Bheema Cements: The stock has cracked 86.5 percent this year, declining from ₹160 to ₹21.5 currently. It has given negative returns in 11 of 12 months this year, except December (up 17 percent). It shed the most in March, down 33 percent. Bheema Cements Limited is an India-based company that is engaged in the manufacture and sale of cement, including Ordinary Portland Cement (OPC) and Portland Pozolana Cement (PPC). The company's other cement grades include BHEEMA Super Grade, BHEEMA Cement OPC 53 Grade and BHEEMA Cement OPC 43 Grade.
Bohra Industries: The stock has lost 84 percent in 2023 YTD, down from ₹148 in December last year to currently trade around ₹23. It has been in the red in 10 of the 12 months this year, tanking the most in December so far, down 33.6 percent. Bohra Industries Limited manufactures and trades in phosphate fertilisers in India. The company offers single super phosphate, granulated single super phosphate, triple super phosphate, rock phosphate, and other fertilisers.
Eureka Industries: The stock has declined 82.6 percent this year, down from ₹19.30 to currently trade at ₹3.3. It gave negative returns in 10 of 12 months so far, falling the most in Feb, down 51 percent. Eureka Industries Limited does not have significant operations. Previously, it was engaged in the manufacturing and selling of cotton and manmade fibers.
Apart from these 7, Veerkrupa Jewellers, Kaiser Corp, Future Lifestyle, SS Infra, Muzali Arts, Raj Rayon, Globalspace Tech, and Dhruv Wellness, Bombay Metric Supply Chain, Rajesh Exports, EKI Energy, Adani Total Gas, and Adani Energy Solutions lost between 50 percent and 80 percent each in 2023 YTD.
It's important for investors to approach any stock with caution and conduct thorough research. Due diligence should include an analysis of the company's financial health, management, industry trends, and any potential regulatory issues.
One must always contact their financial advisor before making any investment decisions.
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