Wikipedia entries: Adani Enterprises, Adani Green, Adani Power, 7 other group shares fall up to 5%

Shares of Adani group stocks fell up to 5 per cent in Wednesday's trade after Wikipedia's newspaper  said that sockpuppets - some of them being company employees - created 'puffery' around billionaire Gautam Adani, his family and the ports-to-power conglomerate he helmed by adding non-neutral material and removing warnings from information on the free internet-based encyclopedia.

Nathan Anderson, the founder of Hindenburg Research that accused the group of accounting fraud, stock price manipulation and money laundering, came out with a tweet saying: "Signpost is out with an article showing how Adani systematically manipulated its Wikipedia entries using sock puppet accounts, undisclosed paid editors and removing evidence of conflicts of interest," tweeted Anderson.

Adani Group's flagship Adani Enterprises declined 5.44 per cent to Rs 1,483.05. Shares of Adani Green Energy tanked 5 per cent to Rs 539.30. Adani Ports & SEZ was down 2 per cent at Rs 571.70. Adani Power slipped 3.39 per cent to Rs 165.35. Adani Transmission plunged 5 per cent to Rs 788.75 while Adani Total lost 5 per cent to Rs 834.95. Adani Wilmar dropped 4 per cent to Rs 393.95.

Ambuja Cements fell 2.17 per cent, ACC declined 1.43 per cent while NDTV dipped 3.87 per cent.

At last count, Gautam Adani’s total wealth stood at $46.1 billion; making him the 27th richest in the world. He was world's second richest for a brief period in 2022. Till Tuesday, Adani group shares had lost $134 billion in market value, with the group m-cap falling below $100 billion level.

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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