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- Gautam Adani News: Adani Group Companies Market Cap Decreased In Five Days, Shares On Lower Circuit
Mumbai5 hours ago
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- 4 shares are trading with a fall of 5-5% for the fifth consecutive day
- Shares of Adani Port and Adani Enterprise up 5%-5% today
Shares of Adani Group companies have fallen every day this week. Even today the shares of 4 group companies are trading on the lower circuit. That is, their shares have reached the extent of their decline in a day. These shares are trading with a fall of 5-5% for the fifth consecutive day. Due to this the total market cap of the group has come down by Rs 174,615 crore.
Enterprise and Port shares up 5-5%
Shares of Adani Group continued to fall since Monday. However, today the shares of Adani Enterprise and Adani Port are up by 5-5%. But the shares of the remaining four companies Adani Total Gas, Adani Power, Adani Transmission, Adani Green Energy are down by 5-5%. The shares of its four companies had reached Rs 1600, which are now trading between Rs 1200-1300.
Adani Green Energy largest company
The largest company in the group in terms of market capitalization was Adani Green Energy. Its market cap was Rs 2 lakh crore. Now it has come down to Rs 165,425 lakh crore. There has been a decrease of Rs 26,425 crore in this. The market cap of Adani Enterprises has declined by Rs 24,504 crore in five days. It has now become Rs 1.51 lakh crore. The market cap of Adani Port has come down by Rs 27,836 crore to Rs 132,622 crore.
Adani Power’s market cap decreased by 15 thousand crores
Similarly, the market cap of Adani Power has come down by Rs 15,684 crore to Rs 44,316 crore. The market capitalization of Adani Transmission has come down by Rs 39,726 crore to Rs 135,925 crore. Adani Total Gas has suffered the most. Its market cap has fallen by Rs 40,440 crore to Rs 138,367 crore. In this, the foreign company is a part of Total.
Ranking may drop
Due to the shock to the companies of Adani Group this whole week, now its owner Gautam Adani’s ranking of rich business man in the world may also decrease. Also, there will be a long gap in net worth between Mukesh Ambani and Adani of Reliance Industries in Asia. Till last week, Mukesh Ambani’s net worth was Rs 5.82 lakh crore while that of Adani was Rs 5.48 lakh crore. But meanwhile, news of foreign investors this week has widened the gap between the two.
sudden jump in the shares of reliance industries
However, in the meantime, Reliance’s stock suddenly jumped 12-15 per cent last week. This took the market cap of Reliance to Rs 14 lakh crore. Today Adani’s market cap is Rs 7.68 lakh crore. That is, the difference is almost double. Till a week ago, the difference was less than Rs 5 lakh crore.
And behind in the ranking of rich businessman
According to sources, now it will be very difficult for Adani to become the richest businessman in Asia. Because there are not many good days ahead for their companies. This is because Adani’s coal mines project in Australia is stuck. There is a continuous protest here and the country’s largest bank State Bank of India is not giving loans to it.
Impact on airport business
On the other hand, Adani won the tender to run 6 airports in the country for 50 years. But for the last 14 months, due to less movement due to Corona, the airport business is also being affected. Whereas maintenance and expenses are the same. For the coming few months, there will be less movement at the airport and international travel will also be restricted. In such a situation, there will be a lot of impact on Adani’s earnings from the airport.
Foreign investors freeze money
Shares continued to fall since Monday after news of three foreign investors freezing their money in Adani Group companies. On Monday, the stock of Adani Enterprises had fallen 22%. Apart from this, the shares of the remaining 5 listed companies had seen a decline ranging from 5 to 15%. Although there was a recovery in the shares of three companies by the end of the evening, but the shares of the remaining three are continuously in the lower circuit.
Promoter’s stake is good
However, the promoter’s stake in these companies is quite good. Promoter stake in its three companies is above 74%. The lowest stake is in Adani Green Energy and Adani Total Gas at 56.29-56.29%. Foreign investors account for more than 20-20% in four companies. While one has 11 and one has 17% share.
Doubt on investment of 3 foreign investors
The reason for the fall in the shares was that SEBI caught three such foreign investors in the group companies, which are believed to be bogus. These three investors are – Albula Investment Fund, Cresta Fund and APMS Investment Fund. They are registered at the same address of Port Louis, the capital of Mauritius. They don’t have website. SEBI has frozen the investments of these three.