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
Adani Enterprises
Fresh Long Above 1723 can see fast rally towards 1970/2233/2513
Fresh Shorts below 1279 for a move towards 1082/901
Adani Transmission
Strong Support at 1399/1184
Adani Green
Strong Support at 924
Adani Port
Fresh Long Above 465 can see fast rally towards 557/634
Fresh Shorts below 418 for a move towards 356/298
Ambuja Cement
Fresh Long Above 372 can see fast rally towards 436/504
Fresh Shorts below 314 for a move towards 260/212
Adani Wilmar
Strong Support at 356
ACC
Fresh Long Above 1849 can see fast rally towards 1988/2131
Fresh Shorts below 1716 for a move towards 1587/1464