In Numbers: Here’s how Adani Group’s market cap changed since Hindenburg report
Adani Group postponed a crucial $2.5 billion stock sale owing to market volatility, which escalated its market losses to more than $100 billion.
According to a January 24 analysis by Hindenburg Research, seven listed Adani Group companies have an 85% downside on a fundamental basis because of extraordinarily high valuations. The report raised questions about debt levels and potential unlawful use of tax havens.
Soon after the report was released, The market capitalisation of Adani Group companies was lowered by almost ₹1 lakh crore as a result of a significant stock market correction. Next day, as trading restarted, Adani Group companies continued to lose money, bringing the two-day market capitalisation decrease to ₹4 lakh crore.
The conglomerate postponed a crucial $2.5 billion stock sale owing to market volatility, which escalated its market losses to more than $100 billion and sparked worries about a potential systemic impact. As a result, shares of Adani Group plunged even more on February 2.
If we compare how various Adani entities lost its value between January 24, when the Hindenburg report was released, and February 3, the last trading day so far; we’ll notice a significant impact.
Cement producer ACC was at ₹43,869 crore on January 24 and lost 17.54% to reach ₹36,173 crore on February 3. Adani Enterprises, the Conglomerate’s flagship company, was at ₹3,92,474 crore on January 24 and lost 53.98% to reach ₹1,80,599 crore on February 3.
Adani Green Energy went from ₹3,03,113 crore to ₹1,47,988 crore, losing 51.17% of its value. Adani Ports lost 34,43% and went from ₹1,64,354 crore to ₹1,07,758 crore. Losing 30.11%, Adani Power was valued at ₹74,072 crore on February 3 from ₹1,05,989 crore on January 24.
Adani Total Gas lost 58.15% of its value and went from ₹4,27,326 crore to ₹1,78,824 crore. Adani Transmission lost 49.14% and became a ₹1,56,342-crore company from being a ₹3,07,447-crore company.
Adani Wilmar went from ₹74,491 crore to ₹52,039 crore, losing 30.14% while Ambuja Cements lost 25.04% and fell to ₹74,204 crore from ₹98,994 crore. The total market cap of Adani Group slipped 47.44% to reach ₹10,07,999 crore from ₹19,18,056 crore.
| Jan 24 | Feb 3 | CHANGE (%) | |
| ACC | 43,869 | 36,173 | -17.54 |
| Adani Enterprises | 3,92,474 | 1,80,599 | -53.98 |
| Adani Green Energy | 3,03,113 | 1,47,988 | -51.17 |
| Adani Ports | 1,64,354 | 1,07,758 | -34,43 |
| Adani Power | 1,05,989 | 74,072 | -30.11 |
| Adani Total Gas | 4,27,326 | 1,78,824 | -58.15 |
| Adani Transmission | 3,07,447 | 1,56,342 | -49.14 |
| Adani Wilmar | 74,491 | 52,039 | -30.14 |
| Ambuja Cements | 98,994 | 74,204 | -25.04 |
| Total market cap | 19,18,056 | 10,07,999 | -47.44 |
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First Published:4 Feb 2023, 10:46 AM IST
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