Adani, Bharti, Bajaj lose most in percentage terms in latest market rout

Among the top 10 business groups in the country, Adani, Bharti and Bajaj have lost the most in percentage terms in the latest market rout. The benchmark S&P BSE Sensex has come off 11 per cent from its all-time high on August 28.

In comparison, the value of promoter holding of Adani group companies is down 24 per cent or Rs 256 billion ($3.5 billion) and that of Bharti group is down nearly 20 per cent or Rs 253 billion. Shares of Adani Ports and Adani Transmission are down 17 per cent and 34 per cent, respectively since August 28.

Meanwhile, shares of Bharti Airtel are down 23 per cent and Bharti Infratel has declined 7.4 per cent.  The promoter wealth erosion in the Bajaj group is Rs 354 billion ($4.8 billion), or 15.9 per cent. Top Bajaj group firms, Bajaj Finance and Bajaj Finserv are down 22 per cent and 17 per cent during this period. In absolute terms, promoter wealth erosion is the most for the Tata group — down by Rs 716 billion ($9.7 billion) to Rs 6.5 trillion ($89 billion) since August 28.