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    These 9 stocks have destroyed over 85% of investor wealth in last 1 year

    These 9 stocks have destroyed over 85% of investor wealth in last 1 year

    These 9 stocks have destroyed over 85% of investor wealth in last 1 year
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    By Pranati Deva   IST (Published)

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    Stocks like Cox & Kings, Reliance Communications, Reliance Power, Jet Airways, DHFL, Sintex Plastics, Reliance Infra, Reliance Home Finance, and Reliance Capital have fallen over 85 percent in last one year.

    Indian equity markets have largely been volatile in the last one year as worries over the economic slowdown, liquidity crunch and weak earnings weighed on investors' risk appetite.
    The 30-stock Sensex fell 1.4 percent in the last one year while Nifty shed 3.8 during the same period. In the NSE500 index, 370 of 500 stocks have delivered negative returns in the last 1 year.
    Some stocks on the index have seen far more erratic erosion in their value than others due on loan defaults and rating downgrades. The financial condition of these firms have deteriorated in the last one year, leaving investors in absolute shock.
    Stocks like Cox & Kings, Reliance Communications, Reliance Power, Jet Airways, DHFL, Sintex Plastics, Reliance Infra, Reliance Home Finance, and Reliance Capital have fallen over 85 percent in last one year.
    The share price of travel firm Cox & Kings declined the most, down 96.5 percent during the last one year, and 95.5 percent since the beginning of this year. An investment of Rs 1 lakh in 2018 would have been reduced to Rs 3,500 at the current market price.
    Cox & Kings has been facing a liquidity crunch. It has defaulted on Rs 10 crore, Rs 174 crore, and Rs 45 crore worth commercial papers on three different occasions, respectively and is in the midst of finalising a resolution plan to resurrect the company. The company recently announced that it won't be able to declare its financial results for the quarter ended June 30. The company also got a 180-day breather from lenders to finalise a resolution plan.
    Anil Ambani's Reliance Communications also tanked 93.4 percent in the last 1 year and 91.3 percent in 2019. The company filed for bankruptcy earlier this year after it failed to get necessary approvals from lenders and DoT to conclude its deal with Reliance Jio. The telecom operator has a debt of over Rs 46,000 crore currently.
    Dewan Housing Finance's shares have fallen 93 percent during the last one year and fallen 81 since the beginning of this year. The stock has been under heavy selling pressure, following allegations of corporate governance lapses and concerns on the housing finance company’s liquidity. The company's share price first took a hit after a crisis emerged at IL&FS.
    Sintex Plastics has plunged 90 percent in the last 1 year and 84.2 percent in 2019. The company recently sold 100 percent equity stake in its indirect wholly-owned subsidiary, Sintex NP SAS to XTECH Invest as a part of its strategy to reduce debt.
    Other ADAG stocks have also been under pressure in the last 1 year. Reliance Capital shares tumbled 89.2 percent in the last 1 year, while Reliance Power stock dropped 89 percent. Reliance Infra and Reliance Home Finance were both down 88 percent during this time.
    Another major loser was Jet Airways, which lost 86 percent during the last one year and 85 percent since the beginning of this year. The cash-starved airline suspended operations in April and lenders are currently working on ways for its revival.
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