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A month after Hindenburg report: It's business as unusual for Adani Group

As on December 2022, retail investors held between 1 per cent and 11 per cent in the 10 Adani group stocks


Photo: Bloomberg

Samie Modak Mumbai
Adani Group stocks continued to reel under pressure even a month after the US-short seller Hindenburg Research’s scathing report, alleging irregularities in the group, was made public on January 24.

The 10 group stocks have lost an average of Rs 52,343 crore each day since the release of the report. The total market capitalisation or m-cap erosion for the group has been Rs 12.05 trillion ($145 billion), or 63 per cent, from Rs 19.2 trillion in just one month — in what is called the biggest-ever wipeout of wealth globally.

Gautam Adani’s ranking on the Bloomberg Billionaires Index has slipped

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First Published: Feb 24 2023 | 7:29 PM IST

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