Rs 6 lakh crore shock! Adani stocks lost up to 74% in 2023 but 2 counters thrived
Investors in Adani stocks, who were used to making astonishing returns by betting on Gautam Adani's business acumen, were in for a rude shock in 2023 when the combined market capitalisation of the conglomerate fell by around Rs 6 lakh crore because of the Hindenburg controversy.
At the end of 2022, the total market value of all 10 listed Adani companies was Rs 19.6 lakh crore which has now fallen down to Rs 13.6 lakh crore.
While many Adani stocks have managed to recoup a part of their Hindenburg-led losses, Adani Total Gas remains 74% down on a year-to-date (YTD) basis. The stock, which had gone close enough to nearly touch the Rs 4,000-mark is now struggling to inch above the Rs 1,000 mark.
Shares of Adani Energy Solutions are also down 61% YTD.
The counter of Adani Wilmar, which owns the Fortune brand of edible oils and packaged grocery, has lost about 44% of its value in the year. The conglomerate is said to be in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in the FMCG firm.
Adani's flagship entity Adani Enterprises has lost about 28% of its value.
Similarly, Adani Green Energy and NDTV are down 24-25% each.
The group's two cement companies — ACC and Ambuja Cements — have been amongst the least affected in the rout. While ACC is down about 15%, Amubja has lost about 6% of its market cap.
On the other hand, shares of Adani Ports and Adani Power are walking into 2024 after not only surviving but thriving in the forgettable year 2023.
The group's cash cow Adani Ports has seen its share rallying around 24% while that of Adani Power surprised with 70% return.
What should investors do?
After the Supreme Court reserved its order on a batch of pleas concerning the
