Gautam Adani led Adani Group's listed entities have taken a major knock in the last one week after the Hindenburg Research report. Adani Group stocks are down up to 60 per cent from their respective 52-week highs, wiping out more than $100 billion dollars from their cumulative market capitalization.
The brutal sell-off in Gautam Adani's listed entities had cost him lose the title of third richest man on the planet, even pushing him out of top-10 list, suggest the Bloomberg Billionaire Index data. However, he continued to remain India's richest man.
Gautam Adani, who was a centibillionaire at the beginning of the year, has lost about himself has lost about $65 billion of wealth from his peak at $150 billion. He lost $36 billion in month of January itself as his total wealth stood at $84.5 billion on January 31, 2023, the data suggests.
In Indian currency, Gautam Adani's ten listed entities have cumulatively lost more than Rs 8.8 lakh crore of marketcap from their peak valuations. Intestingly, only three group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises contributed about 80 per cent of this fall in value terms.
Adani Green Energy is among the worst performing Adani stock as its has plunged 60 per cent to Rs 1,224.05 on Tuesday, January 31, 2023 from its 52-week high at Rs 3,048 on April 19, 2022. The company has lost 2.89 lakh crore of marketcap during the period, which has nosedived to Rs 1.94 lakh crore from Rs 4.83 lakh crore.
It is followed by Adani Transmission, whose stocks is down 58 per cent to Rs 1,773.95 on Tuesday from Rs 4,238.55 on September 16, 2022. The company has lost Rs 2.75 lakh crore of m-cap during the period to Rs 1.98 lakh crore from Rs 4.72 lakh crore.
Adani Group's flagship company, Adani Enterprises also lost Rs 1.39 lakh crore of its marketcap to Rs 3.39 lakh crore on Tuesday. The stock is down 29 per cent from its 52-week high at Rs 4,189.55 on December 21, 2022 to Rs 2,975 on January 31, 2023. Its Rs 20,000 managed to sail through in the previous trading session, the last day of bidding.
Adani Total Gas' mcap loss is little less than Rs 1 lakh crore as the company stock is down 47 per cent from its 52-week high to Rs 2112.90. It has lost more than 93,000crore of m-cap. Adani Ports & SEZ and Adani Power also lost more than Rs 80,000 crore each in their m-caps as the stocks are down 38 per cent and 48 per cent, respectively.
Groups latest debutant, Adani Wilmar is down 47 per cent from its 52-week high and has lost Rs 54,475 crore of valuation. Its recently acquired firms including Ambuja Cements and ACC have lost about one third of their peak valuations, whereas NDTV is down 57 per cent from its 52-week high, but lost only Rs 2,070 crore of mcap.
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