Earthquake in Adani Group’s shares, Gautam Adani’s net worth also declined by 12.1 billion dollars.
– 2.25 lakh crore decline in market cap of Adani Group companies
New Delhi, 21 November (HS). Shares of listed companies of Adani Group also fell victim to a big fall in the domestic stock market after bribery charges were filed in the US court against Adani Group Chairman Gautam Adani, his nephew Sagar Adani and another. Due to this decline, the market cap of the group companies fell by Rs 2.25 lakh crore in one fell swoop. The net worth of Gautam Adani himself also decreased by $12.1 billion. According to Forbes Real Time Billionaires Index, Gautam Adani has joined the list of today’s top 10 losers. His net worth declined from $69.8 billion to $57.7 billion. With this, Gautam Adani also slipped to 25th place in the list of world’s richest people.
With the start of today’s trading in the stock market, shares of Adani Group companies came under pressure. Due to this pressure, shares of the group’s flagship company Adani Enterprises fell by 23 percent to the level of Rs 2,155.05. However, due to minor purchases later, shares of Adani Enterprises closed at Rs 2,183.65 with a weakness of Rs 637.85 or 22.61 percent. Similarly, shares of Adani Energy Solutions closed at the lower circuit level of Rs 697.25 with a weakness of Rs 174.30 or 20 percent. At the same time, shares of Adani Green Energy fell by Rs 267 or 18.90 percent and closed at Rs 1,145.70 after today’s trading. In the day’s trading, shares of Adani Green Energy had reached the lower circuit level of Rs 1,132. However, later the situation of this stock improved marginally due to the support of buyers. Similarly, shares of Adani Wilmar fell by Rs 32.75 i.e. 10 percent today and reached the lower circuit level of Rs 294.90.
Shares of Adani Ports and Special Economic Zone, another big company of the same group, closed at Rs 1,114.65 with a fall of Rs 175 or 13.57 percent. Before this, as soon as the market opened, the company’s shares had fallen to the level of Rs 995.65. Similarly, shares of Adani Power today closed at Rs 476.15 with a weakness of Rs 47.95 or 9.15 percent. Before this, as soon as the market opened, this share had fallen to the level of Rs 432. Shares of the same group company Adani Total Gas fell by 69.85 i.e. 10.40 percent and closed at Rs 601.90 today. This share had fallen to the level of 545.75 in its first day of trading.
Ambuja Cement shares also registered a big fall today. This share fell by Rs 65.40 or 11.90 percent and closed at the level of Rs 484.15. This share had dived to Rs 453.05 in its first day of trading. Shares of ACC, another cement company of Adani Group, also closed at Rs 2,027.20 today with a fall of Rs 158.50 or 7.25 percent. However, soon after the market opened, this share fell to the level of Rs 1,868.20. Adani Group’s own media company NDTV suffered comparatively less loss. Today this share closed at Rs 167.67 with a decline of Rs 1.12 or 0.66 percent. Immediately after the market opened, this share also dived to the level of Rs 143.60.
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Hindustan News / Yogita Pathak
