scorecard
  1. Home
  2. stock market
  3. news
  4. All of Adani Group stocks suffer as oil price war adds fuel to fire amidst ‘coronacrash’

All of Adani Group stocks suffer as oil price war adds fuel to fire amidst ‘coronacrash’

All of Adani Group stocks suffer as oil price war adds fuel to fire amidst ‘coronacrash’
Stock Market2 min read

  • The Adani group stocks are one of the worst affected in the last few weeks as Indian and global markets are rattled by Coronavirus.
  • The share price of all the six companies of the Group — Adani Enterprises, Adani Ports, Adani Power, Adani Transmissions and Adani Gas — have slipped in the last ten days.
  • Here is how they have been performing.
The Adani group stocks are one of the worst affected in the last few weeks as Indian and global markets are rattled by Coronavirus. In addition to an effect of bearish sentiment taking over the markets and effects of an extended pandemic, the energy major’s stocks are also suffering from the crude oil price crash after Saudi Arabia and Russia engaged in a price war.

The share price of all the six companies of the Group — Adani Enterprises, Adani Ports, Adani Power, Adani Transmissions and Adani Gas — have slipped in the last ten days.

Here is how they have been performing.

]]>

Adani Enterprises saw a 25% dip in the share price over the last ten days — from ₹218.35 on March 2 to ₹162.85 on March 12.

]]>

The stock of Adani Gas went down by ₹34.9 during the same period.

]]>

The shares of Adani Power slumped by 35% between March 1 and March 12.

]]>

The stock of Adani Transmission also slumped by a little over 35%.

Over the course of the last six years, the group has expanded its operations in its port, coal imports, coal mining, power generation, city gas distribution and edible oil imports. The Adani Group saw a turnover of ₹77,000 crore with ₹20,141 crore as operating profits in 2017-18.

]]>

Adani Ports stock too shaved off 15.8% value as exports remain stressed as the pandemic spreads.

]]>

Adani Green which has been one of the best performing stocks of the group in the last few months lost almost 20% of its value due to the major market sell off and outflow of foreign investors.

As the virus, which has already affected people in over 75 countries continues to spread, the researchers are now worried about a global recession. As of now, there have been 75 confirmed coronavirus cases in India.

The shutting down of factories in China has disrupted global supply chains ⁠— e.g. lack of parts have stalled car manufacturing, lack of inputs have hurt drug making and so on ⁠— trade and travel have to come a grinding halt, triggering fears of large-scale unemployment, and those are just some of the effects of the deadly coronavirus.

This led to a sharp sell-off in global markets, with Wall Street clocking its worst plunge since the collapse of Lehman Brothers that triggered the global financial crisis in 2008.

READ MORE ARTICLES ON


Advertisement


Popular Right Now


Advertisement


Popular Keywords




Advertisement