Adani’s company’s profit fell by 96 percent.. Oh no, is it Rs. 9 crore?
Gautam Adani, who was ranked third in the world till a few days ago, suddenly dropped out of the top-20 due to Hindenberg’s allegations. Not in the top-15 even now. Adani has also lost the status of the youngest in Asia. What Hindenburg said was that the Adani Group was involved in manipulations in the stock market and accounting frauds. Due to this, the market value of Adani companies and personal wealth fell. Adani Total Gas, Adani Enterprises, Adani Transmission, Adani Ports, Adani Power, Adani Wilmar, Adani Green Energy and the market value of these companies fell badly.
But it seems that Adani has made good loans with many banks of India. It is reported that the State Bank of India alone has to pay Rs. 21 thousand crores. On the other hand Bank of Baroda and Punjab National Bank have also given loans to Adani Group. And there is no clarity on when these will be paid.
- Read Latest Business News and Telugu News
Also Read: Loss of Rs. 8 Lakh Crores in a single day.. A blow to Google with that small mistake.. More than Gautam Adani!