This is important, so we decided to disrupt our normal schedule to bring you this note.
The Adani group saw its market capitalization crash by Rs 1 lakh crore in one fell swoop today, bringing the dream run of its stocks to an abrupt halt.
With this drop in market capitalization, the gap between India’s richest man Mukesh Ambani and the second richest Gautam Adani became wider, with Adani’s net worth slipping by $7.6 billion.
All six stocks of the group did manage to recover from the day’s lows before markets closed for the day, but the intraday movement was …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com