As losses continue to mount higher every day, a 106-page-long report by American short-seller Hindenburg Research has left a $100-billion-deep hole in the pockets of investors in Adani stocks.
In the last six trading days, ever since the whistle-blower’s report was released last Wednesday, the market capitalisation of all 10 Adani Group companies has so far lost 43% which translates into a loss of Rs 8.3 lakh crore or around $100 billion.
The market cap of Adani stocks has reduced from Rs 19.2 lakh crore before the short-seller’s attack to Rs 10.89 lakh crore this morning.
The total debt of the top Adani Group companies – Adani Enterprises, Adani Ports, Adani Power, Adani Green and Adani Transmission — has increased from Rs 1 trillion to Rs 2 trillion over the past three to four years On an absolute level, it estimated that bank debt stood at Rs 70,000-80,000 crore of the Rs 2 lakh crore debt in FY22.
Below are important Support levels for Adani Stocks
Adani Total Gas
Strong Support at 1692
Fresh Long Above 1723 can see fast rally towards 1970/2233/2513
Fresh Shorts below 1279 for a move towards 1082/901
Strong Support at 1399/1184
Strong Support at 924
Fresh Long Above 465 can see fast rally towards 557/634
Fresh Shorts below 418 for a move towards 356/298
Fresh Long Above 372 can see fast rally towards 436/504
Fresh Shorts below 314 for a move towards 260/212
Strong Support at 356
Fresh Long Above 1849 can see fast rally towards 1988/2131
Fresh Shorts below 1716 for a move towards 1587/1464