Adani Group Bloodbath Sees No Relief! 6/10 Stocks Hit LCs, Plunge Upto 30%

By Malvika Gurung

Investing.com -- The ports-to-power conglomerate major Adani Group listed companies witnessed the incessant rout extending to the fifth consecutive session on Wednesday, which pulled the Nifty50 index to the red.

The total market capitalization of all the listed Adani Group stocks wiped out by Rs 2 lakh crore on Wednesday, and in the past five sessions, the cumulative m-cap of the stocks has eroded by almost Rs 7.5 lakh crore.

Here’s how Adani Group stocks fared on Wednesday.

• Adani Enterprises (NS: ADEL ): crashed 30% and closed 26.7% lower at Rs 2,179.75 apiece.
• Adani Total Gas (NS: ADAG ): hit a 10% lower circuit at Rs 1,897.4 apiece.
• Adani Green Energy (NS: ADNA ): hit a 10% lower circuit at Rs 1,101.55 apiece.
• Adani Transmission (NS: ADAI ): hit a 10% lower circuit at Rs 1,596.6 apiece.
• Adani Ports and Special Economic Zone (NS: APSE ): crashed 25%, closing 19.2% lower at Rs 495.15 apiece.
• Adani Power (NS: ADAN ): hit a 5% lower circuit at Rs 212.65 apiece.
• Adani Wilmar (NS: ADAW ): hit a 5% lower circuit at Rs 443.15 apiece.
• Ambuja Cements (NS: ABUJ ): plummeted 20.11%, closing 16.7% lower at Rs 334.1 apiece.
• ACC (NS: ACC ): tumbled 11% and closed 6.2% lower at Rs 1,846.45 apiece.
• NDTV (NS: NDTV ): hit a 5% lower circuit at Rs 235.7/share.

Shares of the flagship company of Adani Group, Adani Enterprises nosedived 30% in Wednesday’s intraday trade following a report that Credit Suisse (SIX: CSGN ) Group AG stopped accepting the bonds of Adani Group companies as collateral for margin loans to its private banking clients.

Read More: Here’s Why Adani Enterprises Crashed 30% on Feb 1