Adani Group stocks plummet by up to 13%, wiping out ₹90,000 crore from market capitalization

On Wednesday, Adani Group stocks like Adani Ports, Adani Enterprises, and Adani Green suffered significant losses ranging from 5% to 10%. All ten stocks in the Adani Group experienced sharp declines, with flagship company Adani Enterprises witnessing its seventh consecutive session of decline.

Adani Enterprises led the losses on the Nifty 50 index, plummeting by more than 6%. Within a week, the stock has declined by over 9%. Adani Ports shares also experienced a significant drop of over 6% in today’s trading session.

Adani Green Energy witnessed the most significant decline among Adani Group stocks, dropping over 13%. Adani Total Gas shares also saw a notable decline of over 8%, while Adani Wilmar’s share price fell by more than 4%.

Additionally, both ACC and Ambuja Cements shares were trading with losses exceeding 4% each.

The collective market value of Adani Group stocks has dropped by ₹90,000 crore. Additionally, on Wednesday, Indian stock market indices dipped by around 1%, with midcap and smallcap indices experiencing the most significant losses.

As of 12:30 pm, the Sensex plummeted by 676.89 points (0.92%), trading at 72,991.07, while the Nifty 50 saw a decline of 259.50 points (1.16%), reaching 22,076.20. The broader market indices, Nifty Smallcap 100 and Nifty Midcap 100, both fell by 3%-4% today, marking the third consecutive day of losses.

HSBC and Motilal Oswal recently increased target prices for Adani Ports and maintained their “buy” recommendations after February data indicated that the company might exceed its higher cargo volume forecast for the fiscal year.

Jefferies began covering Adani Enterprises on February 13 with a “buy” rating, forecasting a doubling of EBITDA to ₹21,449 crore by FY26 and setting a target price of ₹3,800 for the stock.

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