Adani Group Shares Crash, Adani Group Shares: Bought to become millionaires, now doing ‘poor’; Know current status – adani group crisis updates adani enterprises sees worst ever fall
Gautam Adani’s troubles do not seem to be easing. A whopping $52 billion has been wiped off his net worth in the last 10 days and he has dropped first from 2nd to 4th and then from 4th to 7th and now straight down to 21st place in the world’s billionaires list. After a worsening situation following the Hindenburg Research report, now there is bad news for them from the US as well, after which shares of Adani Enterprises fell 35 percent on Friday. Lakhs of investors who invested in Adani Group’s stocks are leaving the Adani Group today and the shares are starting to sell off.
Important news for investors, exchange eyes on these 3 shares of Adani Group
Lower circuit on five stocks also on Friday
The news of Adani Group’s exclusion from the Down Jones index affected the company’s shares in the Indian market. Shares fell sharply in the morning market session and fell another 35 percent. At the time of writing, shares of Adani Enterprises Limited were trading at Rs 1,345.70, up 14.03% or Rs 219.55. Besides, Adani Power also hit the lower circuit on Friday, with the stock trading up five percent at Rs 191.95. Adani Total Gas is also trading in the red at Rs 1622.35 per share.
Apart from this, Adani Wilmar Limited was also on the lower circuit till 11 am, with the stock falling five per cent to Rs 399.95 by the time of writing. Adani Green Energy Ltd fell 10% to Rs 935.90, while Adani Transmission Ltd also took a lower circuit today and was trading at 1,396.05. Adani Ports shed 8.12% to Rs 424.90, Ambuja Cement shed 4.89% to Rs 335.15 and ACC Ltd shed 4.36% to Rs 1,761.45.
Shares in Adani Group plummet, leaving investors poor in just five trading sessions
Notably, in the last three sessions, shares of Adani Enterprises have been falling by 35 per cent intraday. Besides, the group’s market cap has halved since the Hindenburg report came out. Adani Group’s market cap was Rs 9.4 lakh crore on January 24, which is now Rs 9.4 lakh crore. In this way, investors in the group have lost around Rs.10 lakh crore.
What is the reason for today’s decline?
There are two main reasons for today’s fall in Adani Enterprises shares. NSE has listed three group companies on ASM. It has three companies Adani Enterprises, Ambuja Cements and Adani Port. The objective of inclusion of companies in ASM is to reduce the volatility of shares. Along with this, monitoring of these stocks will also increase. In addition, Adani Enterprises has been removed from the Down Jones Sustainability Index.
