Adani Group: Two years of wealth and then Hindenburg made it miserable… How was the shares of Adani Group? – after two years of dream run adani group stocks fizzled out in fy23
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In this report, the Gautam Adani-led Adani Group was accused of manipulating the share price. However, the group rejected these allegations. But this led to a sharp fall in the group’s shares and it had to focus on reducing debt rather than on its expansion plans. The market cap of the six group companies was Rs 12,53,068 crore as on March 31, 2022, which stood at Rs 7,55,670 lakh crore as on March 29, 2023. This does not include Adani Wilmar, ACC, Ambuja Cements and NDTV. Adani Wilmar was listed in February last year. Similarly, ACC, Ambuja Cements and NDTV were bought last year.
Which stock declined the most?
According to statistics, in the financial year 2022, the market cap of six companies of Adani Group had increased by 88 percent while in 2021 it had increased by 409 percent. In October last year, the market cap of Adani Group companies had reached its peak and Gautam Adani had reached number two in the list of the world’s richest people. Adani Total Gas had the worst performance in the last financial year. Its shares fell 58.33 per cent till March 29. Similarly, Adani Transmission declined by 58.33 per cent, Adani Green Energy by 52.73 per cent and Adani Enterprises by 20 per cent. Shares of Adani Ports remained flat.
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