Adani Group Loses Over Rs 1 Lakh Crore After NSDL Freezes 3 FPI Accounts; Company Terms Reports As 'Market Speculations'
3 years, 9 months ago

Adani Group Loses Over Rs 1 Lakh Crore After NSDL Freezes 3 FPI Accounts; Company Terms Reports As 'Market Speculations'

ABP News  

Mumbai: In what could put a break to Gautam Adani from becoming Asia's richest and bull run of Adani Group shares, the National Securities Depository Ltd has frozen the accounts of three foreign funds that together own shares worth Rs 43,500 crore in four Adani Group companies. Reacting to the news, shares of six Adani Group listed firms eroded over Rs 1 lakh crore of market capitalization as shares of Adani Group's flagship firm Adani Enterprises and Adani Port, and SEZ fell by 20% on Monday morning while Adani Power, Adani Transmission, Adani Green Energy, and Adani Total Gas shares fell by 5%. The fall in market capitalization of Adani Group listed stocks has made Gautam Adani poorer by $6.3 billion as his fortune plunged to $68.6 billion as of June 14, widening the gap with Asia's richest Mukesh Ambani with a fortune of $85.8 billion, according to Forbes Real-Time Billionaires list. A sharp rally in the shares of some Adani Group companies had added more than $40 billion to Gautam Adani's wealth this year, making him Asia's second-richest person.

History of this topic

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