Do you know how much Adani Group firms lost due to Hindenburg report so far?

Adani Group stocks lost over Rs 7 lakh crore of their combined market capitalisation after the the US-based short seller Hindenburg Research report was published.

Hyderabad: In a span of five trading sessions, shares of Adani group firms slumped losing more than Rs 7 lakh crore of their combined market capitalisation. The downward spiral began since a host of concerns over the US-based short seller's report.

As the Wednesday's trading closed, all the Adani group companies settled in negative territory with shares of three companies hitting their lowest price band. The worst hit was shares of Adani Enterprises. It nosedived 28.45 per cent to close at Rs 2,128.70 on the BSE.

FPO withdrawn- Adani Enterprises which has offered Follow-on Public Offer (FPO) for Rs 20,000 crore which was fully subscribed on Tuesday was withdrawn late on Wednesday night. The subscription sale sailed through after non-retail investors bid in big volumes while it retail investors and company employees shied away from the share sale which opened on January 24.

Group stocks fall- Meanwhile, Adani Ports and Special Economic Zone went down by 19.69 per cent followed by Ambuja Cements by 16.56 per cent and ACC cements by 6.34 per cent, Adani Total Gas with 10 per cent dip, Adani Green Energy by 5.78 per cent, Adani Wilmar by 4.99 per cent, Adani Wilmar by 4.99 per cent, NDTV by 4.98 per cent, Adani Power by 4.98 per cent and Adani Transmission by 2.46 per cent.

38 per cent decline-Market figures registered a decline of about 38 per cent on par with the market valuation at the end of trading on January 24, the day when Hindenburg Research published its Adani report. The Adani group stocks (including Ambuja, ACC and NDTV) have lost more than Rs 7 lakh crore or about 38 per cent of their combined market cap in the last five trading sessions, PTI reported quoting Manish Chowdhury, head of research at Stoxbox, as saying.

"With investors hoping for a breather following the successful closure of the Adani Enterprises FPO yesterday, it was another shocker when news emerged today that Credit Suisse has stopped accepting bonds of Adani group as collateral for margin loans to its private banking clients. With several questions being raised about the group, it looks prudent to stay away from these companies till the dust settles," Manish said.

Adani group companies have been making nosedives on the bourses after the Hindenburg report made serious allegations against the group. The report blamed the Gautam Adani-led group of having involved in fraudulent transactions and share price manipulation, among others.

Adani group dismissed all the charges as lies and asserted that it has complete compliance with all laws and disclosure requirements. It also slammed the Hindenburg report as baseless. While it threatened to sue the short seller, the US-firm has welcomed the move which the latter said would be helpful to seek for more Adani group records to strengthen their research if such a suit was filed in the US.