Gautam Adani who is the second richest man in India has faced a drawback in his financial value as his wealth has seen an erode of 10 billion which has happened in just an hour as the bell opened on Dalal street which happened on Monday as there were reports of NSDL as they have freeze the account of three of the foreign investors who have a pretty large stake in the group of the companies.
Gautam Adani Group On Spread False Story
But it seems like that the late bargain hunting and it has helped the stock to have a recovery and this has helped him a lot in these times of desperation as it has helped him to contain the losses and has decreased the loss which now stands at 5 billion dollars and now when you talk about Friday, his wealth is looking to be 77 billion dollars which is according to the index of Bloomberg Billionaire.
The wealth erosion has led to providing the Adani group to have 7.3 billion as the market capitalization of the company has fallen down by 15 billion dollars and this is the result of the stock hit that the company has faced after the opening bell and when you talk about today the company has gone down by 25% which has happened after the trade and this has been reported by The Economic Times that NSDL has gone ahead with freezing 3 of the foreign portfolios of the investors who had a big share in the stocks as they had a large part of non-promoter’s share, the three funds that have been frozen are Cresta Fund, Albula investment fund, and APMS investment fund if you compile the ownership of these three funds, it comes out to be 43,500 crores which they had in 4 of Adani group companies which have been reported by The Economic Times.
It seems like NSDL has suspended these 3 accounts of these registered FPI’s on 31st May which has been stated in the reports of ET and it seems like Adani Group has stated that media reports are not at all true as NSDL has told them that they have not frozen the accounts of these foreign investors.
The run-up that the company has seen in the stocks which is listed in the National Stock Exchange and BSE has made Gautam Adani the person who is creating the wealth in the fastest pace on the planet until now as we are entering 2022 as he has added about 43 billion dollars since Friday.