HomeMarketsMarket InsightOverall market value of 10 Adani enterprises falls below Rs 7 lakh...

Overall market value of 10 Adani enterprises falls below Rs 7 lakh crore mark

Shares of Adani enterprises falls down 2.41 percent ar ₹1,283 while Adani Power fell 2.59 per cent to Rs 143, Adani Transmission, Adani Green Energy and Adani Total Gas were all locked at their 5 per cent lower circuit limits.

Adani owned NDTV too was down 3 per cent while Ambuja Cements declined 2 per cent whereas ACC edged 0.60 per cent lower. Only Adani Ports remained the group stock that was trading higher.

The market capitalisation (m-cap) of 10 Adani group companies has fallen below Rs 7 lakh crore mark in Monday’s trade.

As of Monday’s intraday levels the m-cap of Adani group stood at Rs 6.97 lakh crore, down 63.69 per cent or Rs 12.22 lakh crore over Rs 19.19 lakh crore as on January 24.

In order to reassure investors, Gautam Adani’s conglomerate is planning to conduct a fixed-income roadshow. The move is aimed at bringing back investors and restoring their confidence in the aftermath of a US short-seller report.

According to sources, a roadshow will probably take place in Singapore today. It will see participation from Adani Group Chief Financial Officer Jugeshinder Singh. Post the roadshow, similar confidence-building meetings will be held in Hong Kong on February 28 and March 1.

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