Adani Group shares fell by 69%, accounting of each stock

What did Hindenburg do wrong? Adani Group shares fell by 69%, accounting of each stock. The process of decline in the shares of Adani Group is not stopping.

14. Feb 2023
Adani Group shares fell by 69%, accounting of each stock

The share price drop of the Adani Group is still ongoing. As a result, the market capitalization of corporations has drastically decreased. The Adani Group has been shaken by the Hindenburg report.

The shares of Adani Group firms were shattered after the publication of the report by the American research firm Hindenburg, practically halving the market capitalization. Adani Group was forced to cancel the fully subscribed FPO of its flagship company, Adani Enterprises, worth Rs 20,000 crore, as a result of declining share prices.

The report by Hindenburg was released on January 24. Following that, up until February 13, the market capitalization (Mcap) of the shares of the Adani Group fell by 53%. Ten Adani Group entities in total are traded on the stock exchange.

Business from Port to Power Sector

In the modern era, the Adani Group is present in a variety of industries, including FMCG, infrastructure, power, airports, cement, and media. Since 2004, the group has also provided exceptional returns to its investors. The group's listed firms include NDTV, ACC, Ambuja Cements, Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Enterprises, Adani Power, Adani Ports, and Adani Wilmar. ACC, Ambuja Cements, and NDTV were among those that the Adani Group purchased last year.

How much did market capitalization decline?

Between January 24 and February 13, the market capitalization of each of the Adani Group's ten publicly traded firms fell dramatically. The largest loss, at 69%, was experienced by Adani Total Gas. In addition, Adani Enterprises' market capitalization has decreased by 50%. Adani Transmission's Mcap has decreased by 59%.

Adani Green Energy's market value has dropped by 64%. Adani Port and Special Economic Zone's Mcap has decreased by 27%. Adani Power's market value decreased by 43%, Ambuja Cements' by 31%, Adani Wilmar's by 28%, ACC's by 22%, and NDTV's by 30%.

Revenue Growth Target

After suffering losses as a result of the share market tsunami, Adani Group has now decreased its revenue growth target from 40% to over 50%. According to a Bloomberg article, Adani Group may lower its revenue growth objective from an earlier projection of 40 percent to 15 to 20 percent for the upcoming fiscal year.

Hindenburg's allegations and Adani Group's response

The seven listed Adani Group firms, according to Hindenburg's assessment, are overvalued. The Adani group has allegedly been involved in stock manipulation and money laundering for many years, according to the research.

The Adani group accused Hindenburg of copy-pasting in its 344-page response. The organisation had claimed that either Hindenburg had not conducted adequate research or he had given false information to deceive the audience. The Gautam Adani-led group termed all the accusations false in a more than 400-page statement.


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