{"id":551263,"date":"2023-01-31T11:24:17","date_gmt":"2023-01-31T05:54:17","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=551263"},"modified":"2023-01-31T11:24:17","modified_gmt":"2023-01-31T05:54:17","slug":"adani-group-loses-29-market-value-in-3-days-as-carnage-continues","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/adani-group-loses-29-market-value-in-3-days-as-carnage-continues\/","title":{"rendered":"Adani Group loses 29% market value in 3 days as carnage continues"},"content":{"rendered":"<p>MUMBAI: The massive sell-off in Adani Group stocks continued for the third consecutive session on Monday, wiping out nearly Rs 1.4 lakh crore worth of investors\u2019 wealth. In all, about 29% of the group\u2019s market capitalisation, or about Rs 5.6 lakh crore, has been eroded in the last three trading sessions.<\/p>\n<p>The steep slide in the conglomerate\u2019s stocks \u2014 which started on Wednesday after US-based short seller Hindenburg Research released a report criticising the group \u2014 also pushed its chairman Gautam Adani to the eighth spot among the world\u2019s richest, down from seventh on Friday and third a week earlier. With a net worth of $88.2 billion (about Rs 7.2 lakh crore), Asia\u2019s richest person is just $4.1 billion (about Rs 33,000 crore) ahead of Reliance Industries NSE -0.52 % chairman Mukesh Ambani, who\u2019s at the 10th spot, according to Forbes&#8217; real time billionaire index.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: The massive sell-off in Adani Group stocks continued for the third consecutive session on Monday, wiping out nearly Rs 1.4 lakh crore worth of investors\u2019 wealth. In all, about 29% of the group\u2019s market capitalisation, or about Rs 5.6 lakh crore, has been eroded in the last three trading sessions. The steep slide in the conglomerate\u2019s stocks \u2014 which started on Wednesday after US-based short seller Hindenburg Research released a report criticising the group \u2014 also pushed its chairman Gautam Adani to the eighth spot among the world\u2019s richest, down from seventh on Friday and third a week earlier. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-551263","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=551263"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551263\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=551263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=551263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=551263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}