Adani Group shares decrease by as much as 18.5% due to a closer election race; market value decreases by ₹1.35 lakh crore.

Adani Group shares plummeted significantly on Tuesday as most group stocks reached their highest levels in 52 weeks in the previous session due to the general negative mood in Indian markets following indications that the election outcome may be closer than anticipated by exit polls. The decrease in Adani Group stocks today wiped out the profits from the last session.

During the same day, Adani Total Gas experienced the biggest drop, falling 18.5 percent to a low of ₹912.05, below ₹1,000. Adani Green Energy followed suit, dropping by 18.3 percent to ₹1,664.95. Additionally, Adani Energy Solutions dropped by 14.2 percent to ₹1048.70 while Adani Power decreased by 13.6 percent to ₹756.

Additionally, Adani Enterprises, Adani Ports, and Adani Wilmar all saw a decline of 10 percent each during intra-day transactions. Adani Ports and Adani Wilmar both fell by up to 9.8 percent to reach ₹1428.90 and ₹322.20, respectively. In the meantime, Adani Enterprises dropped by 10 percent to ₹3,280.85 following a 52-week high in the last trading session.

The total value of all 10 Adani stocks on the market decreased by about ₹1.35 lakh crore, reducing the total market worth of the company's listed entities to ₹18.07 crore from ₹19.42 lakh crore in the previous session.

On Monday, during trading hours, the market capitalization of all Adani Group companies exceeded ₹20 lakh crore for the first time, surpassing the total market capitalization of ₹19.20 lakh crore of Adani Group companies as of the close on January 24, 2023, when Hindenburg's report was released. Nevertheless, the accomplishment was not maintained in today's session.