Adani Group shares experienced a sharp decline on Monday, losing approximately Rs 53,000 crore in market capitalization. The downturn was triggered by renewed investor concerns following fresh allegations against SEBI Chief Madhabi Buch in the ongoing Adani-Hindenburg saga.
Adani Green Energy was the hardest hit, with its stock price falling by 7%. Other group companies, including Adani Total Gas, Adani Power, and Adani Enterprises, also witnessed significant declines.
While the latest allegations have reignited investor anxiety, market analysts believe the impact on stock prices will be short-lived. SEBI has dismissed the claims against the SEBI chief as unfounded and has reiterated its commitment to a thorough investigation into the Hindenburg report.
The Adani Group continues to face scrutiny as it awaits the completion of SEBI’s ongoing investigation into the allegations made by Hindenburg Research in January 2023.
