New Delhi: There is no sign of Gautam Adani’s past fortunes diminishing. The Hindenburg Report gave him the biggest blow. Since then till now the Adani group has not been able to come out of this cycle. This group suffered heavy losses. Gautam Adani’s wealth declined rapidly. Adani ranked second in the world and had to drop out of the top 30. After this, he again returned to this list. But now the decision of SEBI has given them a big blow. His position in the rich list has fallen once again.
SEBI bump
SEBI has ordered an inquiry into the Adani Group deal. After this news spread in the market, the concern of the investors increased. This gave a big blow to Gautam Adani. There was a huge decline in his wealth. His wealth has decreased by one billion dollars. He slipped again into the rich list. Accordingly, Adani Group’s deal with three foreign companies has come under SEBI’s radar. The stock market regulator SEBI has given instructions to investigate the deals and transactions. SEBI suspects a violation of rules in doing this deal. It is claimed that the three foreign companies with which the transactions took place are related to Gautam Adani’s brother Vinod Adani. Hence, SEBI ordered an inquiry into the transaction.
Shock to the stock market
Adani Group shares took a hit after SEBI ordered a probe into the transaction. As soon as the market opened, the shares of Adani Group started declining. Adani Enterprises fell 1.89%, Adani Green Energy 4.96%, Adani Ports 0.65%, Adani Power 0.55%, Adani Wilmar 2.50%, Adani Total Gas 2.58% and NDTV 2.87%. While Adani Transmission got a 5% lower circuit.
The decline in the rich list
There was an earthquake in the market and SEBI was ordered to investigate the transactions and contracts. Shares of Adani Group fell in the market. This caused a loss to Adani. His wealth decreased by $ 1.2 billion in 24 hours. While Adani has jumped from 24th position to 27th position in the Forbes Real Time Billionaires list. According to Forbes, Adani’s net worth is $43.1 billion.
