The total market capitalization of 7 companies of the group has fallen by Rs 3,782 crore this week.Image Credit source: File Photo: Getty
Shares of industrialist Gautam Adani’s Adani Group companies are yet to recover from the losses caused by the Hindenburg Research report. Due to this, the investors investing in the shares of the company are facing huge losses. This week itself, the shareholders of the group companies have suffered a loss of more than Rs 3,700 crore.
This week Adani Group companies have released their January-March quarterly results. Despite showing good profits, the shares of the group companies failed to perform well in the stock market.
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mcap fell more than 3700 crores
The total market capitalization of 7 companies of Adani Group has fallen by Rs 3,782 crore this week. Among these, mcaps from Adani Enterprises to Adani Transmission, Adani Green Energy, Adani Total Gas and Adani Wilmar have declined.
While the mcap of Adani Power and Adani Port & SEZ has increased, but overall it has decreased. In this way, the investors of Adani Group have suffered a total loss of Rs 3,782 crore.
Shares of 5 companies of Adani Group remained at normal level on Friday. While the shares of Adani Transmission and Adani Total Gas closed down 1 percent each.
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Impact of Hindenburg Research report
In January 2023, Hindenburg Research, a US-based short seller company, released a report questioning the business practices of the Adani Group. In this, Adani Group was accused of wrongly exaggerating the share price of its companies and committing accounting fraud.
The share price of Adani Group companies has seen a decline since then. The group has made several efforts to reduce its debt of Rs 2 lakh crore, but it has not affected the share price of the company yet.