"Thousands of Shareholders of Adani Group woke up today to a shocking reality. The shares of Adani companies nosedived as the sharemarket opened today after a break of 2 days, so much so that it wiped out over $7.6 billion (approx. ₹55,000 crore) net worth of Gautam Adani, according to Forbes’ real-time billionaire's list. This data, of course, was recorded at 10 AM today as the market opened.
six Adani Group companies listed on the Indian stock exchanges hit lower circuits. Adani Ports and Adani Transmission share prices were down by 15% each, while those of the other four companies were down by 5% each.
The stockmarket meltdown also triggered fears of Harshad Mehta Scam-like situation when stock prices fell sharply. Some called it Scam 2021. But what really happened, why did stock prices of Adani Group of companies dwindle this morning, let us understand in today's video.