Adani Group's market cap fell by over Rs 51,000 cr today, taking it below Rs 8 lakh cr. This marks the biggest single-day drop since Feb 14. Since Jan 24, when Hindenburg Research released its report, the group's market cap has plummeted by almost Rs 12 lakh cr.
Worst day for Adani Group stocks in two weeks as investors lose Rs 51,000 crore
WHAT?
Adani Group's market cap fell by over Rs 51,000 cr today, taking it below Rs 8 lakh cr. This marks the biggest single-day drop since Feb 14.
HOW?
Since Jan 24, when Hindenburg Research released its report, the group's market cap has plummeted by almost Rs 12 lakh cr.
MORE
It’s the biggest single-day fall in last two weeks i.e. since February 14. And, since January 24, the day US-based Hindenburg Research released its report on Adani Group, alleging fraud, the Gautam Adani-led group has seen its market cap slide by almost Rs 12 lakh crore, a fall of more than 60% from the peak.
In today’s trading session, all the Adani stocks are trading lower with a downward move in the range of 5-11 percent. Adani Enterprises is down more than 11 percent and the remaining nine stocks are down 5 percent each.
