Effect of Hindenburg, shares of most companies of Adani Group continue to fall, know how much the loss was

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Hindenburg Adani Row: The effect of Hindenburg’s report is still visible on Adani Group and the trend of decline in shares of most of the companies of the group continued on Monday as well. Amidst this decline, the combined market capitalization of all Adani Group companies has reduced by Rs 9.5 lakh crore in nine trading days.

Market sentiment turned bad regarding Adani Group’s shares

Forex traders said that after the report of Hindenburg Research, the market sentiment regarding Adani Group’s shares has deteriorated. Due to this, a huge decline has been registered in the prices of shares of group companies. At the close of trading on Monday, the first day of the week, shares of 6 out of 10 Adani Group companies were in loss.

Adani Transmission’s share fell 10 percent

Adani Transmission’s stock fell 10 percent. Whereas, the shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar declined by 5-5 per cent. Shares of Adani Enterprises, the group’s flagship company, closed down marginally by 0.74 per cent. Although, its share had come down by 9.50 percent in the initial trade, but later its position improved.

Adani Group’s 4 companies registered gains

4 companies of Adani Group registered gains even in the midst of a declining trend. Among these, Adani Ports and SEZ Limited managed to gain 9.46 percent. Ambuja Cement saw an improvement of 1.54 per cent, ACC 2.24 per cent and NDTV 1.37 per cent.

Know what experts say

Manish Chowdhary, head of research at Stocksbox, said that the combined market capitalization of all the group companies has fallen by Rs 9.5 lakh crore, or about 49 per cent, in the last nine trading days. He said that the arrival of the Hindenburg report and the withdrawal of the FPO have adversely affected the business sentiment. Adani Group was accused of fraudulent transactions and manipulation of share prices in a report by US-based short seller firm Hindenburg Research. Since then, the process of decline in the shares of group companies started. However, the Adani group has denied these allegations as false, saying that it has been complying with all laws and disclosure requirements.

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