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Adani Group stocks, including Adani Enterprises, Adani Ports, and Adani Energy Solutions, saw a decline of up to 14% on Wednesday, continuing their sharp fall from the previous session following the 2024 Lok Sabha election results.
Shares of Adani Enterprises, Adani Energy Solutions, Adani Ports & SEZ, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Wilmar fell between 2% and 14%. The 10 Adani Group stocks collectively lost around ₹3 lakh crore in market capitalisation in the previous session on June 4.
On June 3, Adani stocks were among the top gainers after exit polls suggested a clear majority for Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) in the Lok Sabha elections.
However, the actual election results on Tuesday showed the BJP falling short of a full majority in the lower house of Parliament, causing Adani stocks to plummet. Despite this, PM Modi will still form the government with the support of NDA allies.
Adani Energy Solutions’ share price plunged over 14%, Adani Power shares dropped 11%, Adani Enterprises declined over 6%, Adani Ports share price fell over 7%, and Adani Total Gas shares slumped 9%. Adani Wilmar shares were down 4%.
NDTV share price tanked 5%, while ACC and Ambuja Cements were down over 1-2% each.