2 Weeks Since Hindenburg Report: Here's How Much Adani & His Companies Have Lost Till Now

It's been two weeks since the Hindenburg report came out on January 24 and then rattled the Adani group. It has been hurting the Adani group¡¯s stocks as well as the net worth of the group¡¯s chairman Gautam Adani.

Barring a few days when some of the Adani group stocks managed to marginally recover, the conglomerate¡¯s stocks have been witnessing a bloodbath on most days.

Meanwhile, Gautam Adani--the world¡¯s third richest person before the Hindenburg report came out--now sits outside the world¡¯s top 20 richest list on Bloomberg Billionaire Index. And on Forbes's real-time rich list, Adani has slipped to the 17th position.

Last week, he also lost the title of being the world's richest Asian and Indian to Reliance Industries' Mukesh Ambani.

So clearly, Hindenburg's research has been hurting Adani in more ways than one.

So let us look back at the past two weeks and see how much wealth and market cap Gautam Adani and his companies have respectively lost ever since the Hindenburg research came out with allegations of accounting fraud, stock manipulation, and money laundering.

ET

Also Read: Meet Nathan Anderson, The Man Behind Hindenburg Report

Adani's Net Worth Is Down From $120 Billion To $56 Billion

Gautam Adani's net worth has fallen sharply in the past two weeks after the Hindenburg report came out seeking answers to its allegations and 88 questions put forth in front of the group's chairman Gautam Adani.

On January 23, 2023, a day before the report came out, Adani's net worth was $120 billion. The next day, his net worth dropped marginally to $119 billion.

Then on January 25, Adani's net worth further dropped to $113 billion. The following days were no less bad, with Adani's net worth falling sharply to $92.7 billion on January 27, $84.4 billion on January 30, $61.3 billion on February 2 and then, as of today, Adani's net worth has dropped to $56.4 billion on Bloomberg Billionaire Index from $120 billion two weeks ago.

Adani Group's Shares Bleed

reuters

The shares of seven listed companies under the Adani group have bled heavily ever since the Hindenburg research report came out two weeks ago. Adani group companies have suffered a cumulative market loss of over $110 billion in past two weeks.

Adani Enterprises Ltd-Down 47%

Adani group's flagship company Adani Enterprises had a share price of Rs 3,442 on the date the Hindenburg report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 1,813, indicating a 47% fall in this period.

Adani Power Ltd-Down 36%

Adani Power had a share price of Rs 274.65 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 173.25, indicating a 36% fall in this period.

Adani Green Energy Ltd-Down 55%

Adani Green Energy had a share price of Rs 1,916.8 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 844.65, indicating a 55% fall in this period.

Adani Transmission Ltd-Down 54%

Adani Transmission had a share price of Rs 2,762.15 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 1,249.95, indicating a 54% fall in this period.

Adani Total Gas Ltd-Down 62%

Adani Total Gas had a share price of Rs 3,891.75 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 1,464,20, indicating a 62% fall in this period.

Adani Wilmar Ltd-Down 31%

Adani Wilmar had a share price of Rs 572.65 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 389.90, indicating a 31% fall in this period.

Adani Ports & Special Economic Zone Ltd-Down 27%

Adani Ports had a share price of Rs 761.2 on the date the Hindenburg research report came out. And now, i.e. two weeks since the report came out, the share price has dropped to Rs 555.95, indicating a 27% fall in this period.

Besides these listed Adani group companies, even the stocks of companies recently acquired by the Adani group have been suffering during the bloodbath. ACC is down 14% since the Hindenburg report came out, whereas Ambuja Cements is down 22% and NDTV is down 23%.

For the latest and interesting financial news, keep reading Indiatimes Worth. Click here.