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Adani Group Stocks: It has been a month since the report of short seller Hindenburg Research from America came against Adani Group’s listed stocks in the stock market and even after a month, the stocks of group companies are continuing to decline. The Hindenburg report came on 24 January 2023 and after a month of heavy selling, the market cap of 10 companies listed in the stock market of Adani Group has decreased by Rs 12.05 lakh crore.
A month ago, on January 24, 2023, the market cap of 10 companies of Adani Group listed in the stock market was Rs 19.2 lakh crore. After the market closed on Friday, February 24, only Rs 7.16 lakh crore remained. At one time last year, the market cap of Adani group companies had reached up to Rs 25 lakh crore. But every day in the last one month, the company’s market cap has decreased by more than Rs 52,300 crore.
Meanwhile, Adani Group Chairman Gautam Adani has moved from third place to 29th in the list of world’s billionaires and his net worth has come down by $80 billion. And now his net worth is only $ 41.5 billion. The shares of Adani Group have crashed up to 85 per cent.
There has been a decrease of Rs 12 lakh crore in the market cap of Adani group, so according to BSE data, the market cap of the Indian stock market has come down from Rs 280 lakh crore to Rs 260 lakh crore. That means there has been a decrease of Rs 20 lakh crore in the market cap of the Indian market. After the decline in the Adani group, the mood of the entire stock market has deteriorated. Continuous selling continues in the market. The market has closed down for the last six days. So the four stocks of Adani Group are continuously showing lower circuit.
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