Adani Group shares fall: Adani Group shares fall 52% in last 3 months
- Shares of Adani Group have fallen 52 per cent in the last three months
- Shares of these companies hit a 52-week high three months ago.
- Shares of Adani Power fell the most at 52 per cent
Shares of six listed companies in the Adani Group, led by the country’s second-richest Gautam Adani, have fallen 52 per cent in the past three months. Shares of these companies hit a 52-week high three months ago. Of these, Adani Power’s share fell the most at 52 per cent. The stock had touched a 52-week high of Rs 167.1 on June 9. It closed at Rs 79.9 on August 17.
During this period, Adani Total Gas accounted for 42.5 per cent, Adani Transmission 38.2 per cent, Adani Green Energy 32.9 per cent, Adani Ports and SEZ 23.1 per cent. Adani Enterprises fell 16.1 percent. All shares of the Adani Group reached a 52-week high between May and June.
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Why did the shares fall?
But a media report said shares of the Adani group had plummeted. The report claimed that National Securities Depository Limited had frozen the accounts of three foreign funds. He owns more than Rs 43,500 crore worth of shares in four Adani Group companies. The Adani group, however, denied the report. Adani’s wealth has also declined due to declining stocks. Adani’s net worth reached 77 77 billion on June 14 last month, but now stands at .5 54.5 billion.
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Shares of Adani Group have risen sharply in recent years. In the same year, Adani Group became the fourth business group in the country to achieve a market cap of 100 100 billion. Earlier, Tata Group, HDFC Group and Reliance Group led by Mukesh Ambani had secured the position. A year ago, the Adani Group had a market cap of less than Rs 2 lakh crore.
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