Stock bearing the brunt of Adani Group rout is at risk of more losses

Adani Total was down by its limit in early trading on Monday. It has done so each day since Jan. 27.

Adani Group stocks have seen more than $132 billion of market value wiped out since the explosive Hindenburg Research report, but none is hit as bad as Adani Total Gas Ltd.
 

Its shares have lost more three quarters of their value since the short seller report was published on Jan. 24. It was the group’s most richly valued stock before that and also has relatively less liquidity. Hindenburg had calculated that, on average, seven of the conglomerate’s shares were overvalued by 85%.

Adani Total was down by its limit in early trading on Monday. It has done so each day