Counting losses: Adani group stock rout hits Rs 5.6 trillion in 3 days

The fall in Adani group stocks has continued since the release of the Hindenburg report

Shares of a majority of Adani group firms continued their downward trend on Monday with the three-day market capitalisation (m-cap) erosion going past Rs 5 trillion (Rs 5.6 trillion). Rs 1.4 trillion got shaved off on Monday even as the group issued a rebuttal quashing allegations of fraud made by Hindenburg Research.

Shares of Adani Green Energy and Adani Total Gas hit the 20 per cent lower circuit for a second day, closing at Rs 1,189 and Rs 2,342, respectively. Adani Transmission dropped 15 per cent to end the day at Rs 1,707 a share.

The three stocks have declined close to