Adani Group equities are down up to 60% from their 52-week highs, wiping away more than $100 billion from their total market capitalization.
The listed firms of Gautam Adani’s Adani Group have taken a significant hit in the recent week as a result of the Hindenburg Research research. Adani Group equities are down up to 60% from their 52-week highs, wiping away more than $100 billion from their total market capitalization.
According to Bloomberg Billionaire Index statistics, the violent sell-off in Gautam Adani’s listed organizations cost him the title of the third richest man on the planet, even pushing him out of the top-10 list. Nonetheless, he remained India’s richest man.
Gautam Adani, who was a billionaire at the start of the year, has lost approximately $65 billion in fortune since his peak of $150 billion. According to the figures, he lost $36 billion in January alone, with his entire fortune standing at $84.5 billion on January 31, 2023.
Gautam Adani’s ten listed firms have together lost more than Rs 8.8 lakh crore in market capitalization from their high values. Surprisingly, only three group companies, Adani Green Energy, Adani Transmission, and Adani Enterprises, contributed around 80% of this value drop.
Adani Green Energy is one of Adani’s worst-performing stocks, having fallen 60% to Rs 1,224.05 on Tuesday, January 31, 2023, from its 52-week high of Rs 3,048 on April 19, 2022. During the period, the company’s market capitalization fell by 2.89 lakh crore, falling to Rs 1.94 lakh crore from Rs 4.83 lakh crore.
It is followed by Adani Transmission, whose shares fell 58% on Tuesday to Rs 1,773.95 from Rs 4,238.55 on September 16, 2022. The company’s m-cap fell by Rs 2.75 lakh crore throughout the time, falling to Rs 1.98 lakh crore from Rs 4.72 lakh crore.
On Tuesday, Adani Group’s flagship firm, Adani Enterprises, lost Rs 1.39 lakh crore of its market capitalization, bringing it to Rs 3.39 lakh crore. From its 52-week high of Rs 4,189.55 on December 21, 2022, to Rs 2,975 on January 31, 2023, the stock is down 29%. Its bid of Rs 20,000 was successful in the previous trading session, the final day of bidding.
Adani Total Gas’ mcap loss is well under Rs 1 lakh crore, and the company’s shares are down 47% from its 52-week high of Rs 2112.90. It has lost over 93,000 crores in m-capital. Adani Ports & SEZ and Adani Power have also lost more than Rs 80,000 crore in their m-caps, with stocks down 38% and 48%, respectively.
Adani Wilmar, the group’s most recent debutant, is down 47% from its 52-week high and has lost Rs 54,475 crore in valuation. Its recently acquired companies, including Ambuja Cements and ACC, have lost about one-third of their highest valuations, but NDTV is down 57% from its 52-week high but has lost only Rs 2,070 crore.
