Lok Sabha elections results 2024: Adani stocks tank up to 19%; cumulative m-cap down Rs 2.5L cr
The total market capitalization of all ten listed Adani Group companies tumbled more than Rs 2.48 lakh in the initial session as their valuation dropped to Rs 16.94 lakh crore.
- Jun 4, 2024,
- Updated Jun 04, 2024, 03:47 PM IST
Shares of Adani Group companies tanked up to 19 per cent during the early trading session on Tuesday as the market gave a thumbs down to initial trends of Lok Sabha election results, where NDA was struggling to get victory. Blue-chips from the Gautam Adani-led conglomerate were locked in a lower circuit.
The total market capitalization of all ten listed Adani Group companies tumbled more than Rs 2.48 lakh in the initial session as their valuation dropped to Rs 16.94 lakh crore. The total market capitalization of the conglomerate stood at Rs 19.42 lakh crore as of their previous close.
Shares of Adani Total Gas Ltd tumbled 18.55 per cent to Rs 912.05 on Tuesday, with its total market capitalisation barely holding Rs 1 lakh crore. The stock had settled at Rs 1,119.85 in the previous session. Adani Green Energy Ltd tumbled more than 18 per cent to Rs 1,664.95 compared to its close at Rs 2,037.65.
Shares of Adani Enterprises Ltd, the flagship company of the Adani Group, tanked 10 per cent, hitting its first lower circuit limit to Rs 3280.85. The total market capitalization of the company dropped to Rs 3.74 lakh crore. Another blue-chip Adani Ports & Special Economic Zone tumbled in similar fashion to Rs 1,428.9 with its mcap falling to Rs 3.09 lakh crore.
Among other Adani Group stocks, Adani Energy Solutions and Adani Power Ltd tumbled 14.18 per cent and 13.6 per cent for the day, while New Delhi Television (NDTV) tumbled 13 per cent. Adani Wilmar Ltd and Ambuja Cements Ltd also declined 10 per cent, while ACC Ltd shed 9 per cent the day.
In the previous session, Adani Group companies raced past their pre-Hindenburg Research mcap levels, when the damning report from the US-based short seller wiped out $100 billion from Gautam Adani led diversified conglomerate. The total valuation of Adani Group briefly topped Rs 20 lakh crore.
Shares of Adani Group companies tanked up to 19 per cent during the early trading session on Tuesday as the market gave a thumbs down to initial trends of Lok Sabha election results, where NDA was struggling to get victory. Blue-chips from the Gautam Adani-led conglomerate were locked in a lower circuit.
The total market capitalization of all ten listed Adani Group companies tumbled more than Rs 2.48 lakh in the initial session as their valuation dropped to Rs 16.94 lakh crore. The total market capitalization of the conglomerate stood at Rs 19.42 lakh crore as of their previous close.
Shares of Adani Total Gas Ltd tumbled 18.55 per cent to Rs 912.05 on Tuesday, with its total market capitalisation barely holding Rs 1 lakh crore. The stock had settled at Rs 1,119.85 in the previous session. Adani Green Energy Ltd tumbled more than 18 per cent to Rs 1,664.95 compared to its close at Rs 2,037.65.
Shares of Adani Enterprises Ltd, the flagship company of the Adani Group, tanked 10 per cent, hitting its first lower circuit limit to Rs 3280.85. The total market capitalization of the company dropped to Rs 3.74 lakh crore. Another blue-chip Adani Ports & Special Economic Zone tumbled in similar fashion to Rs 1,428.9 with its mcap falling to Rs 3.09 lakh crore.
Among other Adani Group stocks, Adani Energy Solutions and Adani Power Ltd tumbled 14.18 per cent and 13.6 per cent for the day, while New Delhi Television (NDTV) tumbled 13 per cent. Adani Wilmar Ltd and Ambuja Cements Ltd also declined 10 per cent, while ACC Ltd shed 9 per cent the day.
In the previous session, Adani Group companies raced past their pre-Hindenburg Research mcap levels, when the damning report from the US-based short seller wiped out $100 billion from Gautam Adani led diversified conglomerate. The total valuation of Adani Group briefly topped Rs 20 lakh crore.