Vikrant Shekhawat : Nov 05, 2024, 06:00 AM
Gautam Adani News: The Indian stock market witnessed a massive decline on Monday, with not only Reliance Industries but also Adani Group companies badly affected. 10 Adani Group companies suffered a decline of 2% to 4% in shares, taking the group's market cap down by a total of Rs 31,047.2 crore.Effect of recession on Adani Group companiesAdani Enterprises: Adani Enterprises suffered the most, taking its market cap down by Rs 6,007.51 crore to Rs 3,34,291.14 crore.Adani Port & SEZ: The market cap of this company declined by Rs 9,731.43 crore, the highest among all Adani Group companies. Its market cap now stands at Rs 2,91,402.74 crore.Adani Power: Adani Power suffered a loss of Rs 4,686.18 crore, taking its market cap down to Rs 2,25,553.79 crore.Adani Energy Solutions: The market cap of this company fell by Rs 1,339.43 crore to Rs 1,15,971.83 crore.Adani Green Energy: Adani Green Energy suffered a loss of Rs 3,318.55 crore, taking its market cap down to Rs 2,55,179.71 crore.Adani Total Gas: The market cap of Adani Total Gas fell by Rs 1,297.78 crore to Rs 78,240.49 crore.Adani Wilmar: Adani Wilmar suffered a decline of Rs 1,644.1 crore and its market cap stood at Rs 43,058.35 crore.ACC Limited: The market cap of Adani's cement company ACC Limited declined by Rs 732.37 crore, bringing its market cap to Rs 42,987.32 crore.Ambuja Cements: The market cap of Ambuja Cements declined by Rs 2,253.75 crore, after which it came down to Rs 1,40,705.93 crore.NDTV: Adani's media company NDTV suffered a loss of Rs 36.1 crore, reducing its market cap to Rs 1,048.3 crore.Causes and effects of recessionThere are many reasons behind this recession in the stock market, including global economic instability, rising interest rates, and massive selling by foreign investors. Adani Group companies, which have a strong position in the market, are facing this decline, but this can have a huge impact on the strategy and market position of investors in the future.Prospects for the coming daysAccording to experts, Adani Group companies can achieve stability in the future due to their business strength and diversity. Investors will now keep an eye on the future state of the market, which will help to see whether this slowdown is temporary or it will have a long-term impact.