Sharp decline in Adani group mcap, valuation in the last two years

The decline started months before Hindenburg report in Jan 2023

The Adani group has seen a sharp decline in market capitalisation and equity valuation over the past two years, with key figures indicating that the erosion began a few months before the January 2023 Hindenburg Research report on the coal-to-airport conglomerate’s financials.

 

The situation worsened following US Securities and Exchange Commission's (SEC's) bribery allegations involving the group’s founder, Gautam Adani, and seven others in connection with projects under Adani Green Energy Limited (AGEL). This only accelerated the sell-off and valuation correction of the group’s stocks.

 

At its peak in August 2022, the combined market capitalisation of Adani group