Rs 3.4 lakh crore hit to market cap! Adani group stocks plunge up to 48% so far in FY25 – The Times of India-OxBig News Network

Gautam Adani-led Adani Group stocks’ aggregate market capitalisation has declined by 21% in FY25 compared to the previous year, amidst market fluctuations and regulatory scrutiny. A total of Rs 3.4 lakh crore have been wiped out in market cap. Adani Green Energy stocks have faced the steepest decline, losing approximately half of its market value, whilst Adani Enterprises shares have recorded significant losses as well.
As at Friday, March 21, Adani Green Energy’s market capitalisation was recorded at Rs 1.46 lakh crore, showing a substantial reduction from Rs 2.90 lakh crore on March 28, 2024, the final trading session of FY24, according to an ET report.
The company has attracted attention due to allegations regarding a $265 million bribery case which allegedly involves Gautam Adani, his nephew Sagar Adani, and other individuals, with the organisation being identified as a direct beneficiary.
Adani Group has denied all the allegations.
Adani Enterprises, the group’s primary entity, experienced a 27% reduction in share price this year, resulting in a market capitalisation decrease of Rs 94,096 crore. Additionally, Adani Ports and Special Economic Zone (APSEZ) witnessed its market capitalisation decrease by Rs 33,029 crore, representing an 11.40% decline during this period.

Adani Group Stocks: FY25 Performance

Adani Total Gas registered a significant 31.84% reduction in market capitalisation, amounting to Rs 32,411.40 crore in absolute terms. Similarly, Adani Energy Solutions experienced an 18.95% decline, resulting in a reduction of Rs 14,546.59 crore.
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Shares of Adani-owned cement companies experienced significant declines, with ACC falling 23.10% and Ambuja Cements dropping 15.92%.
The agricultural business unit, Adani Wilmar, saw its value decrease by 17.35%, whilst Sanghi Industries experienced a substantial fall of 36.84%. The group has stated its intention to withdraw from the agri-business to concentrate on infrastructure operations. Additionally, Ambuja finalised its strategic purchase of Sanghi in December.
Despite favourable conditions in the power sector, Adani Power registered a slight reduction of 2.11% in its market value.
The group’s media venture, NDTV, suffered a considerable valuation decline of 41.58%.
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Adani stocks have experienced a downturn in FY25, influenced by various market conditions. The Indian equity market has encountered challenges from macroeconomic pressures, reduced urban spending, and global political tensions, particularly regarding Trump tariffs, as the fiscal year approaches its conclusion on March 31, 2025.
Policy uncertainties and elevated global interest rates have led to valuation adjustments in renewable energy and gas sectors, particularly affecting businesses requiring substantial capital investment.
Foreign Institutional Investors’ actions have impacted the share performance. Their increased selling of Indian equities included reducing positions in six Adani Group companies during the three quarters ending September 30, 2024, says the ET report.
Regulatory scrutiny has kept the group in focus as well. Hindenburg’s allegations connecting former SEBI Chairperson Madhabi Puri Buch and Dhaval Buch to Adani-linked offshore entities emerged this fiscal year. The research firm, which had previously accused Gautam Adani of orchestrating the “largest con in corporate history,” presented additional evidence suggesting Buch’s involvement in offshore funds connected to the group.
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Subsequently, the U.S. short-seller reported that Swiss authorities had secured more than $310 million across several Swiss bank accounts whilst investigating potential money laundering and securities forgery associated with the Adani Group.
The most recent development involved the U.S. Securities and Exchange Commission’s charges against Gautam Adani and associates for alleged fraud targeting American investors and official bribery.
The Adani Group has consistently rejected these accusations.