New Delhi: The bombshell report by US-based agency Hindenburg Analysis has accomplished one month and in only a brief span of 30 years, robbed the Indian conglomerate of huge wealth & valuation.
When the damaging report was launched on January 25, the Adani Group shares have been buying and selling at 52-week excessive whereas the billionaire tycoon Gautam Adani was swiftly transferring the rating chart. By January 2023, he was adjudged because the World’s third richest billionaire.
January 25 report by Hindenburg triggered a sequence of meltdown within the firm shares which has remained unhindered & unrestricted. All flagship shares of the Adani Group are in pink and have fallen upto 85%. A enterprise portal studies that the market capitalization of 10 Adani scrips have now gone down by over 60% to Rs 7.32 lakh crore in only one month.
7 High losers at BSE are Adani shares
The BSE500 index has 9 Adani Group shares on its platform. After the Hindenburg accused the Adani Group of inventory manipulation & accounting fraud, many listed scrips of the corporate registered a meltdown and remained on a dropping spree for whole month.
Result’s that every one 9 Adani shares ranked at backside of index and out of 15 High losers, 7 shares are from the embattled Group.
In keeping with a number one portal, the BSE500 index recorded an erosion of Rs 18.33 lakh crore or 7.04% in market capitalization, starting from Rs 260.22 lakh crore (Jan 24) to Rs 241.89 lakh crore (Feb 24).
Out of this, the 9 Adani shares account for an 64% erosion worth of the index, which stands at Rs 11.89 lakh crore.
Adani Complete Gasoline is the worst hit by Hindenburg report slumping by about 80% whereas others from the pack that wobbled embody Adani Inexperienced Vitality, Adani Transmission, Adani Enterprises Adani Energy, Adani Wilmar and Ambuja Cements.
As per information, Adani Complete Gasoline misplaced a market worth of about Rs 3.44 lakh crore, Adani Enterprises & Adani Inexperienced noticed dip in valuation by Rs 2.38 lakh crore Rs 2.26 lakh crore in m-cap respectively.
The dimensions & depth of meltdown is obvious from the truth that earlier than January 24, 6 Adani Group shares had m-cap of over Rs 1 lakh crore however in the present day, solely 2 shares stay on this coveted zone.