New Delhi: Adani group stocks took a beating for a second straight session on Friday, falling up to 20 per cent and losing over Rs 4.17 lakh crore from the combined market valuation of listed firms after the US-based investment research firm Hindenburg Research made damaging allegations.Shares of Adani Total Gas plummeted 20 per cent, Adani Transmission tumbled 19.99 per cent, Adani Green Energy plunged 19.99 per cent and Adani Enterprises tanked 18.52 per cent on the BSE.
Also, Adani Ports and Special Economic Zone fell 16.03 per cent, Adani Wilmar dipped 5 per cent and Adani Power declined 5 per cent.
Ambuja Cements tanked 17.16 per cent and ACC fell 13.04 per cent.
In the broader market, the 30-share BSE benchmark tumbled 874.16 points or 1.45 per cent to settle at 59,330.90.
In two days, the Adani group firms have lost a whopping Rs 4,17,824.79 crore from their market valuation.
The market valuation of Adani Total Gas plummeted Rs 1,04,580.93 crore, while that of Adani Transmission eroded by Rs 83,265.95 crore.
Adani Enterprises market capitalisation (mcap) fell by Rs 77,588.47 crore, Adani Green Energy lost Rs 67,962.91 crore and Adani Ports (Rs 35,048.25 crore).
The market valuation of Ambuja Cements declined by Rs 23,311.47 crore, Adani Power by Rs 10,317.31 crore, ACC by Rs 8,490.8 crore and Adani Wilmar by Rs 7,258.7 crore. “The sharp slump in the Indian market was triggered by an unfavourable research report on Asia’s richest promoter group companies,” said Vinod Nair, Head of Research at Geojit Financial Services.
