Adani Group stocks were among most hit on Monday as Indian stocks extended losses from the previous week in the early morning trade.
This comes after Hindenburg Research came up with fresh allegations against Sebi Chairperson Madhabi Puri Buch and husband Dhaval Buch for allegedly holding stakes in Adani Group-linked offshore fund.
However, the plunge exprienced by the Adani Group stocks was not as worse as the January 2023 crash after Hindenburg's initial allegations against the Gautam Adani-led conglomerate came to the fore. The crash had wiped out $150 billion in market cap across 10 listed Adani Group companies.
On Monday, at 10 am, Adani Power Ltd was trading 4.26 per cent lower while Adani Enterprises saw 4.7 per cent dip. Adani Green Energy was trading at 4.1 per cent dip while Adani Energy Solutions saw 4.24 per cent dip and Adani Ports and SEZ at 2.73 per cent dip.
