Why Indian market is stable despite Adani m-cap rout

On January 24, Adani Group was India’s second-largest conglomerate by market capitalisation (about Rs 19 lakh crore) behind the Tatas when US short-seller Hindenburg Research published the damning report. Since then, Adani Group has lost more than half its value – its market cap is currently at Rs 8.7 lakh crore and ranks fourth. Over Rs 10.5 lakh crore or over $125 billion has been wiped out in Adani Group stocks in 15 trading sessions.