It looks like the Adani loot is going to have its bearing on the fortunes of the BJP in the coming elections. If the opposition can point out the issue properly, it will definitely have an effect on the coming Assembly elections in the five states.
So far the opposition could not put up the right fight against the BJP and the mighty party with the largest membership has been winning one election after the other.
If the issue of Adani loot is projected in the right manner and if the share holders give the right decision then the Modi Government is bound to lose in many states.
When it comes to the allegations, Adani stated “the maliciously mischievous, unresearched report published by Hindenburg Research on 24 Jan 2023 has adversely affected the Adani Group, our shareholders, and investors.
The volatility in Indian stock markets created by the report is of great concern and has led to unwanted anguish for Indian citizens.”
It was a bloodbath on Friday, with Adani stocks hitting lower circuits and some of them even witnessing a double-digit decline. The reason behind the free fall in Adani stocks would be Hindenburg Research’s allegations over the Group.
However, Adani has fought back by giving a much clear picture of its business portfolio. The panic selloffs in these seven stocks have led to a massive correction in Gautam Adani’s net worth.
Asia’s richest man’s wealth is to the tune of $92.7 billion as of January 28. As per Bloomberg Billionaire Index, Adani’s net worth has dropped by $20.8 billion at the latest. However, year-to-date, Adani’s wealth has dipped by $27.9 billion.
