“Nobody’s having to rescue anyone in our system.” The “government has not intervened anywhere,” Sanyal, a member of Prime Minister’s Economic Advisory Council, said in an interview in New York. The administration of Prime Minister Narendra Modi hasn’t intervened in the Adani Group’s tussle with Hindenburg, said Sanjeev Sanyal, an economic adviser to the PM, on Monday. Furthermore, Adani Total Gas and Adani Transmission were moved to the first stage of the long-term additional surveillance measure framework, from the second stage. The losses resulted in a fall of the cumulative market cap of the Adani group stocks to Rs 9.39 lakh crore from Rs 9.70 lakh crore on March 24. Adani Enterprises and Adani Ports, the two Nifty50 stocks, ended over 1 percent lower from the previous close. Shares of Adani Green Energy, Adani Total Gas, Adani Transmission, Adani Power, Adani Wilmar and NDTV all hit the 5 percent lower circuit in trade.
The individual companies in A10 have weights in proportion to their total market cap. The index captures the real-time price movement in all 10 Adani group stocks. MC A10 Index – a sentimeter of Adani group stocks – closed 2.8 percent lower on March 27 at 39.23, with all scrips ending in the red.
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