Gautam Adani has suffered a massive loss of ₹2 lakh crore in the stock market, following the filing of a case in the United States involving allegations of bribery, fraud, and other charges against him and seven others. This legal action has had a significant impact on the global business tycoon’s financial standing.
In the wake of the allegations, Adani Group companies saw a sharp drop in their stock prices, with losses of up to 20% on Thursday. This sudden decline has raised concerns about the impact on Adani’s other ventures.
On Wednesday, US authorities revealed that a group linked to Adani had allegedly paid bribes to Indian officials to secure solar energy contracts. As a result, Adani Enterprises saw a 20% plunge in its stock value, with similar losses recorded by Adani Energy Solutions. Other companies in the group, including Adani Green Energy (down 19.17%), Adani Total Gas (down 18.14%), Adani Power (down 17.79%), and Adani Ports (down 15%), also experienced significant declines on the BSE. Additionally, Ambuja Cements saw a 14.99% drop.
