Adani group shares extend fall; Adani Total Gas tanks 51% in five days
Shares of Adani group companies continued their downward trend on Wednesday, falling by up to 10 per cent on the BSE in Wednesday’s intra-day trade in an otherwise firm market.
In past five trading days, the stock price of Adani group firms have tanked up to 51 per cent after Hindenburg alleged the conglomerate used a web of companies in tax havens to inflate revenue and stock prices. Adani has denied the short seller’s allegations.
Shares of Adani Total Gas were locked at lower circuit for the fourth straight day, down 10 per cent at Rs 1,901.65 today. In past five trading days, the stock slipped 51 per cent from a level of Rs 3,885 on January 24.
