Adani Enterprises, Adani Total Gas, Adani Power: Adani shares exit most-valued list; group m-cap now below HDFC Bank's market value

The recent steep fall in Adani group shares meant none of the group stocks is in the list of 25 most-valued stocks in India. The combined market value of Adani group stocks have also fallen below HDFC Bank's market value, the four most valued company on stock bourses.

The market capitalisation (m-cap) of Adani Enterprises stood at Rs 1,78,798 crore, making it the 27th most valued stock on BSE.  Adani Ports & SEZ with a m-cap of Rs 1,26,001 crore stood at 37th spot. Adani Total Gas, with a market cap of Rs 96,657 crore, stood at 49th spot. Adani Transmission and Adani Green Energy stood at 53rd and 54th stop with m-caps of Rs 92,613.78 crore and Rs 89,917.60 crore, respectively, as of Tuesday's closing price.

To be sure, Adani Total Gas commanded a m-cap of Rs 4,27,326 crore on January 24. Adani Enterprises, Adani Transmission and Adani Green also commanded market value anywhere between Rs 3-4 lakh crore, as on January 24.

At Rs 4,27,326 crore, Adani Total Gas would have been 11th most valued stock on BSE today.  Adani Transmission at Rs 3,92,474 crore (January 24) would have been the 12th most valued stock.

Read more: Adani Enterprises, Adani Power, Adani Total Gas: Adani group wealth erosion equals 4% of GDP, m-cap below $100 billion

Ten of Adani Group stocks commanded a combined m-cap of Rs 8,09,182 crore on Tuesday, which was less than HDFC Bank's m-cap of Rs 9,18,703.53. The combined m-cap of Adani group companies stood at Rs 19.19 lakh crore as on January 24, which was higher than the m-cap of Reliance Industries, the most valued stock on BSE.

The group m-cap have seen a steep erosion of Rs 11,10,706 crore ($134 billion) in m-cap from Rs 19,19,888 crore level on January 24 after allegations of  stock manipulation and accounting fraud by Hindenburg Research. While the Adani group has denied the allegations, there has been no respite to Adani group stocks that are falling since.

The $134 billion stock rout in Adani Group shares equals 4.22 per cent of India's annual GDP that is estimated at $3.17 trillion. The value erosion in Adani group shares also equals the annual GDP of Angola.  In value terms, Adani Total Gas has lost the most. The stock eroded Rs 3.30 lakh crore in market value. Adani Total Gas's m-cap came at Rs 96,656.81 crore today against Rs 4.27 lakh crore as on January 24.

Three of the group's stocks namely, Adani Transmission, Adani Enterprises and Adani Green Energy have eroded over Rs 2 lakh crore, each, in terms of market value. Adani Power and Adani Ports & SEZ have also seen value erosion of up to Rs 39,977 crore.

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