Adani flagship Adani Enterprises falls 10% after Wikipedia’s allegation

Wikipedia’s online daily ‘The Signpost’ alleged that an employee of the Adani Group had likely manipulated information about the group in entries on the volunteer-contributed online encyclopedia

Updated - February 23, 2023 09:34 am IST

Published - February 23, 2023 12:38 am IST - Mumbai

Adani Group ’s 10 listed firms suffered a combined erosion of ₹51,294.04 crore in their market valuation on February 22, 2023. File

Adani Group ’s 10 listed firms suffered a combined erosion of ₹51,294.04 crore in their market valuation on February 22, 2023. File | Photo Credit: AFP

Shares of Adani Enterprises tumbled 10.4% on the BSE on Wednesday to close at ₹1,404.85 after a post in Wikipedia’s online daily ‘The Signpost’ alleged that an employee of the Adani Group had likely manipulated information about the group in entries on the volunteer-contributed online encyclopedia.

Other Adani Group stocks also slumped.

The conglomerate’s 10 listed firms suffered a combined erosion of ₹51,294.04 crore in their market valuation on Wednesday, Press Trust of India reported.

Shares of Adani Ports declined 6.25%, while those of Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Adani Wilmar slumped by 5%, or almost 5%, each.

In the broader market, the BSE Sensex fell 927.74 points, or 1.5%, to settle at 59,744.98 points.

Adani Group stocks have taken a beating on the exchanges after U.S.-based short-seller Hindenburg Research last month alleged that the group had indulged in fraudulent transactions and share-price manipulation. The Adani Group has refuted all the allegations as false and misleading.

Also Read | How much has the Adani group lost since the Hindenburg report?

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.