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Adani's indictment rattles stocks
The Morning Standard
|November 22, 2024
ADANI GROUP shares nosedived over 23% on Thursday and the conglomerate's combined market capitalization of 10 listed stocks fell by up to ₹2.8 lakh crore during the trading hours after chairman Gautam Adani was indicted in the US over bribery and fraud charges.
At close, the group's m-cap was down by ₹2.28 lakh crore.
Shares of flagship firm Adani Enterprises fell 23.44% to close at ₹2,159 apiece on the BSE. Adani Green Energy plunged 18% to ₹1,145 while Adani Ports settled 13.11% lower at ₹1,120. Adani Energy Solutions cracked 20% to close at ₹697.70. Adani Total Gas fell 10.35% to ₹602.65, and Adani Power slipped 9.55% to ₹474. Adani Wilmar tanked 10%, ACC Cement 8%, Ambuja Cement 12.5% and NDTV 0.5%. Prices of dollar bonds issued by Adani Group companies also sharply fell on Thursday.
Dit verhaal komt uit de November 22, 2024-editie van The Morning Standard.
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