All Adani group shares fall on election result day: 10 lakh cr in m-cap wiped off

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All Adani group shares fell on the declaration of Lok Sabha election results.

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The Adani group’s Ambuja Cements fell 6.50% to Rs.627. Adani Enterprises itself fell by 5.915% to Rs.3429.80. Adani Green Energy fell 5.11% to Rs.1933.50. ACC fell 4.52% to Rs.2556.50. Adani Wilmar fell 3.94% to Rs.353.85. Adani Power fell by 2.81% to Rs.850.40.

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Morgan Stanley had earlier given an ‘overweight’ rating to Adani Ports, targeting Rs.1517 per share. Adani Ports fell 6.09% to Rs.1488.50.

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Adani Ports, Ambuja Cements, and ACC came under the term, “Modi Stocks” by global brokerage CLSA, which identified 54 companies that could be direct beneficiaries of PM Modi’s policies.