There was chaos in the Indian stock market on Thursday after the allegations of bribery against Gautam Adani in America. A decline of 10 to 20 percent was seen in the shares of Adani Group. Shares of Adani Enterprises fell by 15 percent. A big decline was seen in stocks related to Adani Port and SEZ, Adani Power and Energy and Green Energy. Due to which within a few minutes the market cap of Adani Group suffered a loss of Rs 2.24 lakh crore. The market cap of Adani Enterprises has suffered the maximum loss of Rs 49 thousand crores. At the same time, the market cap of Adani Green Energy suffered a loss of Rs 42 thousand crores. Let us also tell you how much loss has been incurred by which company of Adani Group.
Adani Group companies suffered huge losses
- The market cap of Adani Enterprises suffered a loss of up to Rs 48,821.84 crore during the trading session. Due to which the market cap of the company has reduced from Rs 3,25,502.04 crore to Rs 2,76,680.20 crore.
- Adani Port and SEZ suffered a loss of up to Rs 27,844.19 crore during the trading session. Due to which the market cap of the company has reduced from Rs 2,78,452.71 crore to Rs 2,50,608.52 crore.
- Adani Power suffered a loss of up to Rs 36,006.08 crore during the trading session. Due to which the market cap of the company has reduced from Rs 2,02,367.67 crore to Rs 1,66,361.59 crore.
- Adani Energy Solutions suffered a loss of up to Rs 20,950.36 crore during the trading session. Due to which the market cap of the company has reduced from Rs 1,04,763.85 crore to Rs 83,813.49 crore.
- Adani Green Energy suffered a loss of up to Rs 42,865.415 crore during the trading session. Due to which the market cap of the company has reduced from Rs 2,23,509.64 crore to Rs 1,80,644.23 crore.
- Adani Total Gas suffered a loss of up to Rs 13,417.69 crore during the trading session. Due to which the market cap of the company has reduced from Rs 73,934.73 crore to Rs 60,517.04 crore.
- Adani Wilmar suffered a loss of up to Rs 4,249.94 crore during the trading session. Due to which the market cap of the company has reduced from Rs 42,512.48 crore to Rs 38,262.54 crore.
- ACC Limited suffered a loss of up to Rs 5,969.76 crore during the trading session. Due to which the market cap of the company has reduced from Rs 41,032.45 crore to Rs 35,062.69 crore.
- Ambuja Cement suffered a loss of up to Rs 23,787.94 crore during the trading session. Due to which the market cap of the company has reduced from Rs 1,35,200.13 crore to Rs 1,11,412.19 crore.
- NDTV suffered a loss of up to Rs 156.99 crore during the trading session. Due to which the market cap of the company has reduced from Rs 1,091.82 crore to Rs 934.83 crore.
If the loss in market cap of all the companies of Adani Group is added, then Adani Group has suffered a total loss of Rs 2,24,070.205 crore so far. Let us now understand the allegations due to which the group had to suffer a loss of so many crores.
What is the allegation?
The US prosecutor has accused Indian industrialist Gautam Adani, his nephew Sagar Adani and other officials of paying bribes of $ 250 million, or about Rs 2110 crore, to Indian government officials for contracts related to solar energy. According to the allegations, the bribe was given to secure large solar power contracts between 2020 and 2024, which were expected to yield profits of more than $2 billion to the Adani Group. US Attorney for the Eastern District of New York Brian Peace described the case as an elaborate bribery scheme. Adani, his nephew and former Adani Green Energy CEO Vineet Jain have been charged with securities fraud, wire fraud and conspiracy.
