Adani group stocks rout continues; Adani Enterprises crashes over 10%

Adani Power, Adani Transmission, and Adani Total Gas, were locked in 5 per cent lower circuit today.

Gautam Adani's firms have lost around Rs 11 lakh crore since the Hindenburg report was published. (File image/Bloomberg)

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The rout in stocks of Adani group companies continued on Wednesday, as shares of all its firms fell tracking domestic equities. Adani Enterprises crashed 10.43 per cent, to close at Rs 1,404.85 on the BSE. ACC, meanwhile, tumbled 3.97 per cent, to Rs 1,755.20 on the Mumbai-based exchange.

Ambuja Cement fell 4.92 per cent, while Adani Power, Adani Transmission, and Adani Total Gas, were locked in 5 per cent lower circuit.

Adani Green Energy, Adani Wilmar were down 4.99 per cent, locked in lower circuit limit. NDTV closed 4.13 per cent down to Rs 202 on the BSE.

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Investors continued to exit Adani firms as domestic markets fell sharply today. BSE Sensex crashed 928 points, or 1.53 per cent to 59,744.98. Nifty50 tumbled 272.40 points, to 17,554.30.

The combined equity market value of Adani group’s 10 companies has slipped below $100 billion as firms have lost around Rs 11 lakh crore since the release of a report by US-based short seller Hindenburg Research on January 25. The report stated that the ports-to-power conglomerate was involved in “brazen stock manipulation and accounting fraud scheme.”

Guatam Adani-owned conglomerate has denied the allegations, saying it complies with all laws and disclosure requirements.

Premji said that Wipro would partner with the Government "to find a lasting solution for Bengaluru's mobility challenges".

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