Home/ Markets / Stock Markets/  Adani Group stocks post worst day in two weeks as investors lose 51,294 crore

The Adani Group stocks got an eye-opening jolt on Wednesday that saw destruction of 51,294.04 crore of investor wealth. All the Adani Group's 10 listed firms have together lost 11,62,030.29 crore in market valuation as selling pressure intensified.

Post the release of US-based short seller Hindenburg's bombshell report on 24 January, the shares of Adani Group shares have lost 60% of their value.

Adani Group's flagship Adani Enterprises Ltd was one of the major losers on the Nifty. Shares of the ports-to-power conglomerate's flagship entity closed 11.05 per cent lower at 1,397.50 apiece on the NSE.


Many of Adani firms also hit their lower circuit in today's trade.

Four other Adani Group stocks – Adani Transmission, Adani Total Gas, Adani Wilmar, and Adani Green – were locked in their 5% lower circuit limits.

Shares of Adani Power fell 5%, and NDTV also hit a lower circuit of 5%. The stock of Adani Ports and ACC fell 6%, respectively.

Adani stocks fall among factors pulling the market down

The broader equity market also faced weak trend as the BSE Sensex tanked 927.74 points to settle at 59,744.98, while Nifty fell 272.40 points to 17,554.30.

The selling pressure in the Adani Group stocks have added to the bearish mood on D-Street. With Adani Enterprises losing the most at 11%, all 10 stocks of the Adani Group ended in the red.

"Adani group's market capitalisation is now down 70% from its peak, from around Rs.25 lakh crore to 7.55 lakh crore," said Rohan Shah, head technical analyst at Stoxbox.

Wednesday's loss in market capitalisation was at 3.9 lakh crore as the market value of all listed companies on BSE dropped to 261.3 lakh crore. The m-cap of Adani Enterprises stood at 1,78,798 crore, making it the 27th most valued stock on BSE.

Adani Ports & SEZ with a m-cap of 1,26,001 crore stood at 37th spot. Adani Total Gas, with a market cap of 96,657 crore, stood at 49th spot. Adani Transmission and Adani Green Energy stood at 53rd and 54th stop with m-caps of 92,613.78 crore and 89,917.60 crore, respectively, as of yesterday's closing price.

On Tuesday, as many as 10 of Adani Group stocks commanded a combined m-cap of 8,09,182 crore. The combined m-cap of Adani group companies stood at 19.19 lakh crore as on 24 January.

The stocks of Adani Group have taken a beating on the exchanges after Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against it. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 22 Feb 2023, 04:09 PM IST
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout