Mcap of Adani group cos plunges by Rs 2.19L crore

New Delhi: The combined market capitalisation of all ten listed Adani group firms fell sharply by Rs 2.19 lakh crore on Thursday, more than double of what the conglomerate had lost when the US short seller Hindenburg brought out a damning report in January 2023.

Shares of Adani group firms fell sharply as billionaire Gautam Adani was charged by US prosecutors for allegedly being part of a scheme to pay over $265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.

The stock of the group’s flagship firm, Adani Enterprises, plunged 22.61 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 18.80 per cent, Adani Ports dived 13.53 per cent, Ambuja Cements cracked 11.98 per cent, and Adani Total Gas tumbled 10.40 per cent on the BSE. Shares of Adani Wilmar declined 9.98 per cent, Adani Power slumped 9.15 per cent, ACC fell 7.29 per cent, and NDTV dipped 0.06 per cent.

Some of the group firms also hit their lowest trading permissible limit for the day during the day. The combined mcap of all ten listed group firms eroded by Rs 2,19,878.35 crore.