The Adani Group shares have seen significant intra-day recovery today on November 22 after a challenging trading session on Novemver 21 marked by sharp intraday losseson the back of bribery charges levied by US against Gautam Adani and 7 others. Mounting legal and geopolitical pressure added to market volatility, contributing to the decline in the conglomerate’s market capitalization.
Partial Recovery After Steep Declines
Adani Enterprises, the group’s flagship company, experienced significant volatility. Opening with a 7% drop, the stock trimmed its losses, down 2.2%. Similarly, Adani Ports began the session down 5%, recovering to Rs 1,080.60, a 3.06% loss in intra-day trade.
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Other group companies followed a similar trajectory. Adani Power plunged more than 6% in early trade but has now recovered to Rs 465.55, down 2.23%. Adani Wilmar, which initially dropped over 5%, rebounded 1% during the day.
Adani Energy Solutions saw a steep 9% decline in the morning but reduced its loss to 6% intra-day. Adani Green Energy started with 11% cut but now stabilised around Rs 1,060.95, down 7.5%. Adani Total Gas narrowed its early 6% plus losses to 2%.
Three Adani Stocks in Positive Territory
Despite widespread losses, three Adani Group-acquired stocks—ACC, Ambuja Cements, and New Delhi Television (NDTV)—traded in the green. Even in yesterday’s trade, i.e. November 21, these entities saw xx% gain/loss.
Erosion in market capitalisation
The market capitalization of Adani Group stocks fell sharply . The combined value of its 11 listed stocks dropped by Rs 38,000 crore to Rs 11.68 lakh crore in early trade on November 22 after the sharp Rs 2 lakh crore plus cut on November 21.
Also ReadAdani Group shares extend losses, slide another 10%; Kenya cancels $700 million deal
Over the last two trading sessions, the group’s market valuation has plunged by Rs 2.62 lakh crore, reflecting heightened investor concerns.
Why were Adani Group Stocks Down ?
Adani Group stocks are under intense scrutiny following bribery charges filed by US authorities against Gautam Adani, his nephew Sagar Adani, and six others. The allegations, coupled with Kenya’s decision to cancel the airport expansion project, have significantly impacted investor confidence,
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