Amid this downturn, one of the major Indian conglomerates the Adani Group has also witnessed significant declines in its 11 listed stocks across multiple sectors, including logistics, construction materials, power, and FMCG as select Adani stocks tanked up to 59% from their respective 52-week highs. The sell-off in Adani stocks reflects broader market weakness and sector-specific challenges.
Top losers in the Adani Group:
Adani Green Energy and New Delhi Television (NDTV) recorded the sharpest declines, with both stocks falling 59% from their 52-week highs. Adani Green Energy's latest trading price stands at Rs 896, compared to its peak of Rs 2,174 in June 2024. NDTV also saw a significant decline, dropping to Rs 114 from a high of Rs 275.
Adani Total Gas suffered a 50% decline, dropping its price to Rs 603 from its 52-week high of Rs 1,198.
Adani Power and Adani Energy Solutions also faced steep corrections, losing 43% and 41%, respectively, from their peak prices.
Adani Enterprises, the flagship company of the group, has fallen 40%, currently trading at Rs 2,252 compared to its high of Rs 3,743 in June 2024. Performance of Construction and FMCG Stocks:
In the construction materials sector, Sanghi Industries experienced the largest drop of 52%, trading at Rs 54 from its high of Rs 113. ACC and Ambuja Cements declined 34% and 31%, respectively.
AWL Agri Business, the FMCG arm of the Adani Group, saw a 39% drop, with its stock price falling to Rs 245 from a high of Rs 404.
Among the group’s stocks, Adani Ports and Special Economic Zone has been resilient, declining 29% from its peak price of Rs 1,608 to Rs 1,137. Despite the fall, it remains one of the better performers in the group.