MC Markets Graphixstory: Multibaggers that turned biggest wealth destroyers of 2023

Among other big largecap and midcap losers were Vedanta, Aditya Birla Fashion, and Fine Organic that fell 15-25 percent.

The higher you go, the swifter is the fall. The words ring true for several multibaggers in 2023, including Adani group stocks, Vedanta and Fine Organic.

In late January, a scathing report by the American short-seller Hindenburg Research that accused the power-to-port conglomerate of stock manipulation and other irregularities led to a rout in Adani stocks even though the Group denied the allegations.

The data for 2023 shows that Adani Enterprises, Adani Green Energy, Adani Total Gas, Adani Energy Solutions and Adani Wilmar are among the stocks that tanked 25-75 percent during the year.

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Among other big largecap and midcap losers were Vedanta, Aditya Birla Fashion and Fine Organic that fell 15-25 percent.

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The biggest loser of the year has been White Organic Retail that slumped 95 percent, losing most of its value. Karnavati Finance, Bheema Cements, Eureka Industries, Mirza International and Shree Securities were other top losers, destroying more than 80 percent of investor wealth.

Also read: 20% of all gainers turn into multibaggers this year

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