Adani Group firms’ shares, including those of Adani Enterprises, Adani Ports and Adani Green Energy, dropped nearly 7% on Monday following the release of the most recent report by US-based short-seller Hindenburg Research.

Adani Enterprises and Adani Ports’ shares, which are included in the Nifty 50 index, had a decline of up to 5% before seeing a slight rebound from the day’s low points. Adani Energy Solutions, Adani Wilmar and Adani Total Gas stocks had a decline of 5% to 7%.

Alleging a conflict of interest, Hindenburg has claimed that SEBI was tasked with investigating investment funds connected to the Adani Group, including funds in which Chairperson Madhabi Puri Buch has personal investments.

The allegations were described by Buch as “baseless” and as an attempt at “character assassination.”

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

The stocks of the Adani Group, which includes Adani Enterprises, Adani Ports, Adani Energy Solutions and others, fell nearly 14% on Wednesday, continuing their sharp fall from the previous day on the results of the Lok Sabha election in 2024.

Adani Enterprises, Adani Energy Solutions, Adani Ports & SEZ, Adani Green Energy, Adani Power, Adani Total Gas and Adani Wilmar all had 2% to 14% share price declines. On June 4, the Adani Group’s 10 stocks had a market capitalization loss of around ₹3 lakh crore.

On June 3, Adani stocks were among the top winners as exit polls showed that the Bharatiya Janata Party (BJP), led by Prime Minister Narendra Modi, will easily win a majority in the Lok Sabha elections 2024.

In any case, Adani stocks dropped significantly on Tuesday and continued to tumble today as the actual election results differed from expectations, with the BJP falling short of a complete majority in the lower chamber of Parliament. However, with the backing of its NDA allies, the BJP will still establish the government despite this.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.