Adani Group stocks continue to suffer losses, down up to 14%

Mumbai/IBNS: Adani Enterprises, Adani Ports, Adani Energy Solutions and other Adani Group stocks declined up to 14 percent on Wednesday (June 5), extending their sharp fall from previous session after Lok Sabha election results were declared, reports said.

IBNS • 5 Jun 2024, 03:17 am

According to reports, shares of Adani Enterprises, Adani Energy Solutions, Adani Ports & SEZ, Adani Green Energy, Adani Power, Adani Total Gas and Adani Wilmar declined in between 2 percent to 14 percent each.

In the previous session on Tuesday (June 4), the 10 Adani Group stocks lost around Rs 3 lakh crore in market capitalisation.

Adani stocks were among the top gainers on Monday (June 3) after exit polls indicated a clear majority for Narendra Modi’s BJP and its allies in the NDA in the Lok Sabha elections 2024.

Adani Group stocks, however, took a heavy beating on June 4 and continued to suffer losses on June 5 as the actual election results diverged from the exit poll predictions, with the BJP falling short of a full majority in the Lok Sabha, and Narendra Modi will still form the government with the support of its NDA allies.