Adani Stock News: It is now clear from the results of the Lok Sabha elections that a coalition government will form at the centre. Even though the NDA coalition got majority, the possibility of political upheaval cannot be ruled out. Amid these possibilities, panic is being seen in the stock market. Investors are particularly wary of Adani Group shares. This fear of investors is likely to be boosted by Rahul Gandhi’s statement.
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What is Rahul Gandhi’s statement?
In fact, on Tuesday, Rahul Gandhi was giving his first reaction to the media on the election results. During this time, he mentioned the steep fall in the shares of Gautam Adani’s companies. Rahul Gandhi said- It is very interesting that the public directly connects Modiji with Adani. If Modiji loses, the stock market says that if Modi goes, Adani goes. Rahul Gandhi further said that Adaniji has a direct relationship with Modiji, a connection with corruption.
What does that mean?
Political experts are looking at Rahul Gandhi’s statement regarding Adani Group from a different point of view. With the Congress-led India Alliance giving a tough fight to the NDA in the election results, the possibility of the India Alliance forming the government cannot be ruled out. If this happens, there is a fear among investors that Rahul Gandhi’s assertiveness regarding Adani Group will increase. It is true that Rahul Gandhi has been seen speaking against the Adani Group for some time now. In such a situation, there is a threat of action against the group if it comes to power.
Let us tell you that Adani Group shares were badly scattered during trading on Tuesday amid the election results. The market capitalization of 10 listed companies of the group is Rs. 3.64 lakh crore has decreased. Shares of Adani Ports fell 21.26 percent, Adani Energy Solutions 20 percent, group flagship company Adani Enterprises 19.35 percent, Adani Green Energy 19.20 percent at the end of trading.
Adani Total Gas fell 18.88 percent, NDTV 18.52 percent, Adani Power 17.27 percent and Ambuja Cement 16.88 percent. While shares of ACC fell by 14.71 percent and Adani Wilmar by 9.98 percent. During trading, 8 out of 10 companies of the group reached the lower circuit.