Gautam Adani Slips In Global Rich List

Adani Enterprises (NS:ADEL): stock down 5.2% at Rs 2,820 apiece. Slashed 6% to hit the day’s low at Rs 2,800 apiece.

As the effects of the Hindenburg Report continue to wreak havoc on Adani Group’s listed companies, six out of seven Adani group shares fell sharply on Wednesday.

The share price for the conglomerate dropped below the FPO floor price of Rs 3,112, giving up the 3000 level to trade at Rs 2,915.4.

The Group’s performance takes a turn from the close on Tuesday. “The panic seen in Adani stocks in the past three sessions was missing today. 

Gautam Adani Slips Further On Forbes Real-time Billionaire List, Mukesh Ambani Moves Ahead.

Adani Group founder Gautam Adani lost the crown of Asia's richest person on Wednesday (February 1) after the stocks of Adani’s conglomerate continue to suffer losses.

Other Adani companies such as the Nifty 50 heavyweight Adani Ports & SEZ lost 0.7% and Adani Power saw a sharp cut of 4.98%. 

Hindenburg Research’s report alleged that Gautam Adani, founder and chairman of the Adani Group, had amassed a net worth of roughly $120 billion, adding over $100 billion in the past three years.

According to the Forbes list, Adani's current net worth is USD 75.1 billion while it was USD 83.9 billion earlier during the day.

He has now slipped below his rival, Mukesh Ambani, who has again taken the top spot as both India’s and Asia’s richest man. 

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