No respite for Adani Group firms from market carnage, loses over $140 bn

The total market cap of the group has now been reduced to just Rs 7.6 trillion, down from more than Rs 20 trillion at the start of the year

There seems to be no respite for Adani Group companies from the market carnage. All 10 stocks belonging to the conglomerate came under a fresh bout of intense selling pressure on Wednesday as the group’s debt levels and repayment capabilities continued to plague investors.

Analysts said investors are also concerned about whether the group will be able to maintain its pace of growth, given the current turmoil that has wiped out over Rs 12 trillion in market capitalisation (m-cap) since the start of the year.

Adani Enterprises and Adani Ports and Special Economic Zone — the two most valuable companies