DNA Exclusive: Gautam Adani Falls From 3rd to 7th In World’s Rich, Accused of Manipulating Market Value | India News
Adani Group – owned by the world’s richest person Gautam Shantilal Adani – has faced a sharp fall in terms of its net worth in the past two days. The fall was so steep that Gautam Adani – who was the world’s third richest person just two days ago – fell to 7th spot. But how and why did this happen? The reason behind the downfall was a report – that wiped of Rs 4.10 Lakh Crore from Adani group companies.
In today’s DNA, Zee News’ Rohit Ranjan makes an analysis of the report titled ‘Adani Group – How The World’s Third Richest Man is Pulling The Largest Con In Corporate History’ – that has unleashed market havoc on Adani group of companies.
The Adani Group shares were trending among the top losers for the entire day. The day was so bad that when the markets closed, all the 5 worst performers were Adani Group of companies.
#DNA : अडानी ग्रुप के 4:10 लाख करोड़ रुपये ‘साफ़’#AdaniGroup #HindenburgReport @irohitr pic.twitter.com/gLl7jB9RTn
— Zee News (@ZeeNews) January 27, 2023
Top 5 Losers only had Adani group shares
Adani Green Energy, Adani Total Gas, And Adani Transmission – all these three stocks fell by 20% and became Top Losers.
Apart from this, Adani Enterprises lost 18 %
Ambuja Cement 16%
Adani Ports 15%
The shares of Adani Wilmar and Adani Power also fell by 5% each.
What does the Hindenburg Research report claim about Adani enterprises
As per the report,
– The market value of the 7 listed companies of Adani Group is $218 billion.
– Gautam Adani and his family’s stake in these companies is $ 120 billion.
– Out of these 120 billion dollars, 100 billion dollars have increased in just the last 3 years
– This has happened because of the abnormal increase in the stock prices of the companies.
‘Abnormal increase in Adani Stock Price’
As per the report:
– The share price of Adani Total Gas increased by 2121% in 3 years.
– Adani Enterprises prices increased by 1398% in 3 years
– Adani Green Energy shares gained 908% in 3 years
– The shares of Adani Transmission, Adani Ports, Adani Power and Adani Wilmar also gained heavily during this time.
Watch DNA with Rohit Ranjan to for a detailed analysis of the report titled ‘Adani Group – How The World’s Third Richest Man is Pulling The Largest Con In Corporate History’.
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