Adani Group stocks fall up to 13%; Adani Green, Adani Ent shares top losers
Adani Group stocks, including Adani Ports, Adani Enterprises and Adani Green witnessed heavy losses in the range of 5% to 10% on Wednesday. All ten Adani Group stocks were trading sharply lower with the flagship Adani Enterprises shares extending decline for the seventh straight session.
Adani Enterprises was the top loser on the Nifty 50 index, dropping more than 6%. The stock has fallen over 9% in one week. This was followed by Adani Ports shares that lost over 6% in trade today.
Adani Green Energy shares plunged more than 13%, the biggest loser among Adani Group stocks. Adani Total Gas shares declined over 8%, while Adani Wilmar share price fell over 4%.
ACC and Ambuja Cements shares were also trading with losses of more than 4% each.
With this fall, the total cumulative market capitalisation of Adani Group stocks fell ₹90,000 crore so far.
Meanwhile, the Indian stock market indices also declined by a percent on Wednesday with the midcap and smallcap indices bleeding the most.
At 12:30 pm, the Sensex plunged 676.89 points, or 0.92%, to trade at 72,991.07, while the Nifty 50 was down 259.50 points, or 1.16%, at 22,076.20.
The broader market indices are down for the third day in a row, with the Nifty Smallcap 100 and the Nifty Midcap 100 falling 3%-4% each today.
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Published: 13 Mar 2024, 12:35 PM IST
