New Delhi. Thursday was a very bad day for Adani Group Chairman Gautam Adani. Shares of Adani Group companies crashed after the US court issued an arrest warrant on charges of bribery and fraud. Many shares even reached lower circuit. Adani has suffered huge losses due to this fall.
This is the biggest fall in Adani’s shares after the report of Hindenburg Research. On Thursday morning, three shares of Adani Group fell by 20%. According to a report, the total market cap of all 11 shares of Adani Group decreased by about Rs 2 lakh crore to Rs 12.3 lakh crore. This was the group’s worst trading day since Hindenburg Research reported in early 2023.
Due to this decline, Adani’s net worth has also decreased. According to Forbes Real Time Billionaires List, Adani’s total wealth also decreased by $ 10.5 billion to $ 59.3 billion. Shares of Adani Enterprises, the flagship company of the group, fell 20% to Rs 2,256.20. Shares of Adani Energy Solutions also hit lower circuit of 20%. Adani Ports also declined by 20%.
A total of 8 people, including Gautam Adani and his nephew, have been accused of bribery by US prosecutors. According to prosecutors, bribes worth $265 million were allegedly paid to Indian government officials to obtain solar energy contracts. In this case, the court has issued an arrest warrant against Adani and his nephew.
