An economic turmoil has started all over the world due to the Corona crisis and the subsequent events. Already, the world’s major central banks, including the Reserve Bank of India, the US Federal Reserve, have raised interest rates to control inflation.
As a result, the pace of economic growth has slowed down. There, the corona-fear has made the situation more complicated. Due to which the stock has been sold.
That is why Adani Group has collected around Rs 1.72 Lakh Crores in the last 4 days of last week. According to data from corporate data analytics firm AceEquity, 7 companies in the Adani group have collectively raised that amount in the wake of stock sales.
Stocks of Adani Wilmar, Adani Power and Adani Transmission fell the most.
Adani Wilmar’s stock fell nearly 7% last Friday. The stock traded at Rs 512.65 that day. As a result, the stock has lost a total of 18.53% in the last 4 days of the week. Sensex also lost 1,630 points or 2.65% in those 4 days.
Shares of Adani Power again touched 5% of the lower circuit and traded at Rs 262.25 on Friday. While the stock price was Rs 305.75 on December 19, the stock price stood at Rs 262.25 on December 23 or Friday. Which is 14.23% less than last Monday.
Shares of Adani Transmission were similarly trading at Rs 2,345.20 last Friday, up 6.82%. The stock lost about 12.5% in those 4 days.
Adani Enterprises traded again down 4% at Rs 3,719. The stock has declined about 8.6% in the last 4 days of the last week. Adani Green Energy and Adani Ports and Special Economic Zone declined by around 8-9%.
According to statistics, the combined market capitalization of the 7 companies under the Adani group was Rs 17.04 lakh crore last Friday. Whereas at the beginning of last week, on Monday the market capitalization of the 7 subsidiaries of the Adani group was Rs 18.81 lakh crore. That is, the combined price of the stocks has declined by 9.48% in just a span of 4 days.
Of these, Adani Enterprises has raked in the most, around Rs 40,000 crore. Adani Transmission (Tk 36,521.23 crore), Adani Total Gas (Tk 27,533.75 crore) and Adani Green Energy (Tk 24,528.75 crore) are next in terms of cash shedding.
Today, however, Adani Group companies are seeing gains in the stock market on Monday. Investors have started investing. As a result, how much Gautam Adani can compensate for the loss of 4 days, everyone’s eyes are on that.