Adani Group Stocks Plunge Up To 13%, Erasing ₹90,000 Cr in Market Cap

Mumbai: The Adani Group stocks saw a significant downturn today, with all 10 counters trading in the red, resulting in a collective market capitalization loss of approximately ₹90,000 crore by 12 pm. The most notable decline was seen in Adani Green Energy, which plummeted 13 percent to ₹1,650 per share on the NSE, marking its largest single-day drop in 2024.

Other key Adani Group stocks also faced losses, with Adani Enterprises and Adani Ports & SEZ witnessing declines of 5.5 percent and 5.3 percent, respectively. Adani Energy Solutions, Adani Power, Adani Total Gas, NDTV, and Adani Wilmar fell between 4 and 7 percent.

This downward trend marks the seventh consecutive day of decline for Adani Enterprises, which had been trading nearly 100 percent higher from its 52-week low of ₹1,573.

In terms of market capitalization, Adani Group stocks collectively lost ₹90,000 crore, equivalent to 5.7 percent of the group’s overall market cap of nearly ₹15.85 lakh crore as of Tuesday.

Despite this setback, brokerage firms HSBC and Motilal Oswal have reaffirmed their “buy” calls on Adani Ports, citing promising February data indicating potential surpassing of higher cargo volume guidance for the fiscal year.