As market capitalisation takes a beating, Adani group slips to No. 3
US-based short-seller Hindenburg Research’s report on the finances and valuation of Adani companies has brought to a halt the meteoric rise in the fortunes of group firms on the bourses. The Adani group has lost more than a quarter of its combined market capitalisation (m-cap) since the publication of the report on Wednesday; it has fallen behind the Mukesh Ambani group in the m-cap league table.
The combined m-cap of the 10 listed Adani firms declined sharply to Rs 15.02 trillion on Friday, from Rs 19.20 trillion on Tuesday —the day before the publication of the Hindenburg Research report.
