Key Points
Before investors could finish reading the summary of the 106-page Hindenburg report, Adani stocks started falling like ninepins...
In next seven trading sessions, as the issue erupted into a major controversy criss-crossing the domains of business, markets and politics, the combined market value of all 10 Adani stocks halved to Rs 9.3 lakh crore..
While it is anyone's guess whether Adani stocks will regain past glory of the pre-Hindenburg era, the apple-to-airports conglomerate has managed to soothe investor nerves to some extent by repaying debt, reducing promoter share pledges, winning the trust of new investors like GQG Partners and bagging landmark projects like Dharavi.. ..
The total market value of all 10 Adani stocks have more than doubled from the low point hit in February 2023 but have still left Rs 4.67 lakh crore hole in investor pockets as the total market capitalisation has dipped to Rs 14.53 lakh crore from Rs 19.2 lakh crore...
Beyond equity, some of the worlds largest asset managers - BlackRock, State Street and Neuberger Berman raised their holdings of Adani Group dollar bonds in the last one year as depressed prices of the groups dollar debt likely provided a buying opportunity, according to a Bloomberg report...
