Adani Group stocks fell up to 13 per cent today (March 13). All 10 Adani counters traded in the red which resulted in erasing around ₹90,000 crore off their combined market capitalisation by 12pm.
Adani Group share price: The logo of the Adani Group seen on the facade of its Corporate House on the outskirts of Ahmedabad. (Reuters)
{{^htLoading}} {{/htLoading}}
Adani Group's worst performer on March 13: Of these, Adani Green Energy was the top loser, as it tanked 13 percent to ₹1,650 a share on the NSE. This is the biggest single day drop that shares of Adani Green Energy witnessed in 2024 so far.
How are other Adani Group's stocks performing: Adani Enterprises and Adani Ports & SEZ were trading with losses of 5.5 per cent and 5.3 per cent, respectively. Adani Energy Solutions, Adani Power, Adani Total Gas, NDTV and Adani Wilmar fell between 4 and 7 per cent.
{{^htLoading}} {{/htLoading}}
{{^usCountry}}
Is the fall part of a larger trend? This is the seventh straight day of fall for Adani Enterprises which was trading almost 100 per cent higher from its 52-week low of ₹1,573.
{{/usCountry}}
{{#usCountry}}
Is the fall part of a larger trend? This is the seventh straight day of fall for Adani Enterprises which was trading almost 100 per cent higher from its 52-week low of ₹1,573.
{{/usCountry}}
Loss in market-cap: With today's drop, Adani Group stocks have cumulatively lost ₹90,000 crore in market capitalisation- 5.7% of the group's overall market cap of nearly ₹15.85 lakh crore as on Tuesday.
Buy calls for Adani ports: Earlier brokerage firms HSBC and Motilal Oswal raised target prices on Adani Ports and reiterated their "buy" calls on the stock as February data showed that the company could surpass the higher cargo volume guidance for the full fiscal year.
For Adani Enterprises, Jefferies initiated coverage with a "buy" tag on February 13 and projected doubling of EBITDA by FY26 to ₹21,449 crore, setting a target price of ₹3,800 on the stock.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Home/Business/Adani Group stocks down 13%, ₹90,000 cr wiped off in market-cap. Top loser is…
{{^htLoading}}
Advertisement
{{/htLoading}}
SHARE THIS ARTICLE ON
{{#usCountry}}{{/usCountry}}
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
