In the last 10 days, Adani has suffered a loss of about Rs 9 lakh crore. Gautam Adani got nine consecutive bad news on Friday. A good news then saved Adani.
Mumbai : A storm named Hindenburg comes from America and the entire empire of Gautam Adani in India gets shaken. From the Parliament to the stock market, only Adani is being discussed. 10 days ago Gautam Adani was the fourth richest person in the world. Now it has come at number 21. There has been a huge decline in his wealth. Adani Group shares continue to fall after Hindenburg setback. In the last 10 days, Adani has suffered a loss of about Rs 9 lakh crore. Nine in a row for Gautam Adani on Friday Bad News came after Good News Adani was saved.
1. Parliament was stalled on Friday over the Adani issue. The opposition demanded the formation of a joint parliamentary committee. The opposition is adamant that till then the Parliament will not function.
2 The US stock market Dow Jones jumped strongly on Friday morning. Adani Enterprises was removed from the Dow Jones Sustainability Index. Shares of Adani Enterprises later plunged up to 35%.
Adani Group shares continue to fall heavily after the Hindenburg report. Shares of Adani Enterprises, which were trading at Rs 3,442 on January 24, fell to Rs 1,530 on February 3. The share price of Adani Transmission fell from Rs 2,762 on January 24 to Rs 1,396 on February 3. That is, it has declined by 50 percent. Shares of Adani Ports closed at Rs 488 on Friday as compared to Rs 751 on January 24.
4 Many banks of the country including SBI have given loans worth Rs 81,200 crore to Adani group companies. SBI has told RBI that it has given a loan of Rs 23,000 crore to Adani Group. At the same time, Punjab National Bank has said that it has given a loan of 7 thousand crore rupees to Adani Group. RBI has sought details of loans and investments given to Adani Group from all the banks in the country.
LIC has invested Rs 36,474.78 crore in bonds and equity of Adani Group. Before the Hindenburg report, the value of this investment doubled to Rs 77,000 crore.
Gautam Adani, who has reached number two in the list of billionaires of the world, has been ranked 21st by the Hindenburg Report.
7 NSE has placed three stocks of Adani Group under Additional Monitoring Measures (ASM) for short term. These include Adani Port, Adani Enterprises and Ambuja Cement. ASM is a method of monitoring through which market regulator SEBI and market exchanges BSE, NSE monitor.
8 Rating agency Moody’s has also decided to assess the cash flow of Adani Group.
Bangladesh government has sought amendment of the contract with Adani group in the energy sector. Bangladesh Power Development Board wrote a letter to Adani Power on Thursday. In this, there is a demand for change in power purchase rates.
Now let’s see what was the news
Bad news came one after the other. As a result, Adani Enterprises shares fell 35 per cent on Friday. Shares of Adani Enterprises, which were at Rs 3,442 on January 24, fell to Rs 1,017 on Friday, February 3. But after a good news, the stock again climbed 50 percent to close at 1586.
Good news has come for Adani Group from Fitch Ratings. Fitch rating agency says that there is currently no impact on the rating of companies or securities of Adani Group. Fitch Ratings clarified that there will be no major change in cash flow forecast of Adani Group. After that the trend of shares of Adani Group changed.
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