Gautam Adani: Hindenburg Research gives Gautam Adani a blow of $ 100 billion, becomes ‘poor’ in the list of rich

New Delhi: Shares of Adani Group have declined heavily for the sixth consecutive day. The market cap of group companies has fallen by about $ 100 billion. A report by US-based short selling firm Hindenburg Research last week claimed that the Adani Group has been involved in blatant stock manipulation and account fraud for decades. Since then the shares of Adani Group are getting slaughtered. According to Forbes Real Time Billionaire, the net worth of Group Chairman Gautam Adani has declined by more than 27 percent due to the fall in shares on Thursday. His net worth has dropped by $24 billion i.e. Rs 20,09,09,92,25,000 to $64.7 billion. With this, he has slipped to number 16 in the list of the world’s rich. Before the arrival of this report, he was at number three in this list. But now he has slipped to number three in Asia as well.

Describing the report of Hindenburg Research as a bundle of lies, the Adani Group termed it as a conspiracy against India. But Adani Group has failed to win the confidence of investors. The group has also withdrawn the Rs 20,000 crore FPO of its flagship company Adani Enterprises. Adani himself has issued a statement appealing investors to keep faith in the group. But it seems that his appeal is not having any effect on the investors. Shares of Adani Enterprises fell 25% on Wednesday and today it is down 21% to Rs 1,678. The stock had rallied 800 per cent in the last five years but has declined more than 40 per cent in five days.

Gautam Adani: Gautam Adani lost more in five days than he earned in a year, Mukesh Ambani again became the king of Asia

Nine out of ten stocks declined

Similarly, five per cent in Adani Power, 3.74 per cent in Adani Ports, 10 per cent in Adani Total Gas, 10 per cent in Adani Green Energy, ACC Ltd. Ltd) declined by 0.29 per cent, Adani Transmission by 10 per cent, NDTV by five per cent and Adani Wilmar by five per cent. Only Ambuja Cements gained 3.12 per cent. Shares of all these companies declined on Wednesday, while seven out of ten closed on Tuesday.

In the list of rich, Mukesh Ambani of Reliance Industries is at number 10, while China’s Zhong Shanshan is at number 15. Ambani is first in Asia and Shanshan is second. Adani has now slipped to number three in the list of Asian rich.