NEW DELHI: The market capitalisation (m-cap) of Adani Group’s 10-listed companies has now fallen below the $100 billion mark. The ongoing rout in group stocks, particularly Adani Total Gas, Adani Transmission, Adani Enterprises and Adani Green Energy, since the release of Hindenburg Research’s scathing report on January 24, has wiped out its valuation by a whopping USD 133 billion.
The combined m-cap of 10-Adani stock at the end of Tuesday’s trading session was about Rs 8.20 lakh crore, which at the rupee-dollar exchange rate of 82.76, was valued at about USD 99 billion. Adani Group commanded an m-cap of Rs 19.20 lakh crore on January 24, the day when US-based short-seller Hindenburg Research made allegations of stock manipulation, lapses in corporate governance and accounting fraud on the group.
Among group stocks, Adani Total Gas has shed maximum and eroded Rs 3.30 lakh crore in market value. Its market cap has come to Rs 97,000 crore against Rs 4.27 lakh crore on January 24. Shares of Adani Total Gas, Adani Transmission and Adani Green fell 5 per cent, each, on Tuesday. Meanwhile, the equity market benchmark- BSE Sensex fell 19 points in a volatile session to settle at 60,673.
