Adani Group

Adani Group shares fall heavily, Adani Transmission fall 41% in 3 days

Shares of Adani group companies declined for the third consecutive trading session on Monday. The shares of the group companies have been continuously falling since last Tuesday.

America’s short-selling company Hindenburg Research has accused Adani Group of fraud in its report. Shares of group companies have been coming down since this report came out. Adani Transmission shares have lost 41.66 percent on the BSE since the close of trading last Tuesday.

Adani Total Gas declined by 39.57 percent, Adani Green Energy by 37.55 percent, and Adani Ports by 23.75 percent. Tuesday’s closing price of group companies’ shares has been compared with the day’s trading on Monday. Shares of Ambuja Cements declined 22.77 percent, ACC 20.32 percent, Adani Enterprises 19.51 percent, Adani Wilmar 14.25 percent, Adani Power 14.24 percent, and NDTV 14.22 percent.

The stock markets were closed on Thursday Republic Day. The Adani Group issued a 413-page response on Sunday in response to the allegations by American company Hindenburg Research.

After this, on Monday, Hindenburg stood by his allegations and said that the Adani group fraud cannot be covered with nationalism. Shares of Adani group companies fell up to 20 percent on Friday. There was a decline of Rs 4.17 lakh crore in the market capitalization of group companies. Bank shares and Life Insurance Corporation (LIC) shares also declined due to loans and investments in Gautam Adani’s companies. Bank of Baroda’s share has fallen by 13 percent, State Bank of India by 10.77 percent, and LIC by 8.90 percent in three days.

(The IBC NewsTV team may have changed just the report’s headline and cover image; the remaining text was created automatically from a syndicated feed.)

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