Based on a Hindenburg report, Gautam Adani has dropped from the number 3 position to number 17 with an estimated loss of $50 billion. After losing over $2.5 billion on Friday, Adani is now the 22nd richest person in the world on Saturday.
Adani Group has over 7 publicly listed companies across a wide range of sectors like transmission, Enterprises, Power, etc…
Almost all of the shares fell after the report came out alleging the group was following malpractices.
Adani currently has a net worth of $58 billion dollars sitting at the 22nd spot according to the Forbes rich list daily tracker. This was the same net worth that he had in 2021.
But still, Adani continues to be the second richest person in India after Mukesh Ambani
In a detailed report published on 24 January 2023, Hindenburg Research asked the Adani group 88 questions under the heading ” Growth with Transparency”.
His 7 different publicly listed companies’ performance in the last month
In the last month alone, it has lost 49%. An FPO was issued by Adani Enterprises on 28 January 2023 which had a price band of 3111 to 3276 per share, but it was refunded after subscription because the market price was lower than the offered price.
Has its year-low price of 1,186 rupees by losing more than 50% in the last month.
Adani Power has a lower circuit of 5% each day means Adani power cannot fall more than 5% or rise 5% in a day. Since Adani’s power has a lower circuit, it has lost 40% in the last month. In fact, Adani’s power continuously fell 5% regularly from 23 Jan to till now but rose only once on 8 Feb.
Adani Wilmar also follows the same as Adani’s power with a limit of 5%. But surprisingly Adani Wilmar has not fallen similar to the Adani power. Adani Wilmar lost about 25% in the last month.
An estimated 61% loss in the last month has been attributed to Adani Green Energy.
Adani Total gas.
This is a huge loss to the Adani Group and the share has already touched its 52-week low.
Adani Ports was also in Red within the current month losing a double-digit number. Adani Ports shareholders lost 26% in a month and even at an instance it has also touched its 52-week
Read the detailed report by Hindenburg on Adani