Adani group shares lose about Rs 50,000 crore market cap

Adani Power went down 6.65 percent to Rs 324.30 while Adani Energy went down to Rs 905.45.

Adani group shares lost almost Rs 50,000 crore market capitalisation on August 23 with all scrips ending in the red. While Adani companies went down, the Nifty ended up in the green, rising by 0.25 percent to 19,444 points.

The total market capitalisation of Adani group shares was Rs 11.47 lakh crore on August 22 and it ended up at Rs 10.93 lakh crore on August 23.

Adani Enterprises ended up 5.9 percent in the red to Rs 2,539 while Adani Ports went down nearly 3 percent to Rs 830.05. Adani Power went down 6.65 percent to Rs 324.30 while Adani Energy went down to Rs 905.45.

Shares of ACC and Adani Wilmar fell the least with 0.42 percent and 0.92 percent respectively.

Adani Total Gas fell 2.25 percent despite announcing that they were partnering with Prakriti E-Mobility to create an electric vehicle charging infrastructure.

For the quarter ended June 2023, the conglomerate registered a 42 percent year-on-year growth in Earnings Before Interest Tax Depreciation and Amortisation to Rs 23,532 crore.