New Delhi: The share prices of several of the Adani Group’s listed companies fell by over 20 percent by the time the markets closed Thursday, hours after the US Securities and Exchange Commission (SEC) indicted Adani Group chairman Gautam Adani and several others in a bribery and fraud case.
In total, the combined market value of 11 Adani Group stocks dropped by approximately Rs 2.6 lakh crore to Rs 12 lakh crore rupees.
Adani Enterprises, the group’s flagship company, saw its stock price drop by 661.5 points or 23.44 percent to close at Rs 2,160. It opened at a price of Rs 2,539.35, which was 282 points below the previous close.
The company’s stock was frozen for a while during the day’s trade when the stock price reached Rs 1,031. Its market capital decreased to Rs 2.52 lakh crore from Rs 3.23 lakh crore, recording a fall of Rs 73,502 crore.
Adani Green Energy, one of the companies at the centre of the SEC indictment, suffered a fall of 18.95 percent to close at Rs 1,145, which is 267 points down from its previous close at Rs 1,412. The market capital of the stock fell by Rs 41,625 crore to touch Rs 1.82 lakh crore.
Adani Power fell by 50 points or 9.62 per cent to close at Rs 473.7. Adani Ports saw a decline of 170.6 points, trading at Rs 1,119. The company’s market capitalisation decreased by Rs 37,452 crore to reach Rs 2.41 lakh crore.
Adani Energy Solutions experienced a decline of 20 percent, resulting in a trading price of Rs 697 and triggering a freeze on its trading for a while Thursday. The stock price reached a 52-week low. With a market capitalisation decrease exceeding 21,000 crore, the company is out of the Rs 1 lakh crore market cap club.
Adani Wilmar Ltd shares dropped to Rs 294.40, a decrease of Rs 32.70 or 10 percent. Adani Total Gas Ltd shares also hit a 52-week low and triggered a 10 percent lower circuit on the stock.
The shares of Adani Total Gas Ltd recovered slightly during the day to close at Rs 602, a decrease of 69 points or 10.38 percent. Ambuja Cements Ltd experienced a decrease to Rs 480, reflecting a decline of 69 points or 12.66 percent. The shares of ACC Ltd declined to Rs 2,011, representing a decrease of 174-point or 8 percent.
The shares of New Delhi Television Ltd (NDTV), one of the group’s recent acquisitions, recovered and closed on a positive note at Rs 169, a 0.18 percent increase from its previous close.
(Edited by Sanya Mathur)
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