Adani stocks crash up to 20% today; share investors lose Rs 2.60 lakh crore

Stocks of Gautam Adani’s seven listed companies on the bourses crashed on opening after the New York Eastern district court indicted Gautam Adani, Sagar Adani, Vineet S. Jain and their associates and bribery and securities fraud on Thursday (November 21, 2024).

Adani Energy Solutionns fell 20% to ₹687.5 apiece the most on Thursday’s open. Adani Enterprises crashed 10% opening at Rs.2539.35 a share on Thursday. Adani Ports and Special Economic Zones crashed 10% to Rs.1670 per stock. Adani Power Limited stocks fell nealry 11% to Rs.467.4 apiece.

Adani Green Energy fell 16% to Rs.1184.25 a share and Adani Total Gas dipped 12% to Rs.589.9 per share.

The apple to airports conglomerate’s FMCG stock Adani Wilmar too took a beating opening Rs.310, 8% below previous close.

Also, Ambuja Cements cracked 14.99%, ACC fell 14.54%, NDTV dropped 14.37% and Adani Wilmar declined 10%. Some of the group firms also hit their lowest trading permissible limit for the day.

Equity benchmark indices Sensex and Nifty tumbled in early trade on Thursday amid sharp fall in Adani group stocks and unabated foreign fund outflows. In the equity market, the BSE benchmark Sensex traded 536.89 points lower at 77,041.49 and the NSE Nifty quoted 186.75 points down at 23,331.75.