New Delhi. US officials have accused Gautam Adani and his team of paying a bribe of $250 million (about Rs 2,100 crore) to get solar contracts. The allegations against Adani in the US court disappointed the market and the Sensex-Nifty closed with a decline. At the end of trading, the Bombay Stock Exchange Sensex, based on 30 shares, closed at 71,155.79 with a decline of 422.59 points or 0.54 percent. At the same time, the National Stock Exchange's Nifty closed at 23,349.90 with a decline of 168.60 points or 0.72 percent.
Power Grid Corp, UltraTech Cement, Hindalco Industries, Tata Steel, and Grasim Industries were the top gainers in Thursday's trading. While Adani Enterprises, Adani Ports, SBI Life Insurance, Britannia Industries,. and SBI were the top losers.
Investors lost ₹5.35 lakh crore
The total market cap of BSE-listed companies fell to ₹425.31 lakh crore on November 21 from ₹430.66 lakh crore on November 19. Thus, the market cap of BSE-listed companies has fallen by about ₹5.35 lakh crore today. In simple words, investors' wealth has fallen by about ₹5.35 lakh crore today.
Adani Group shares fell drastically;
on 21 November, Adani Enterprises' share closed with the highest fall of 22.6 percent among the Adani Group companies. According to BSE data, Adani Ports fell 13 percent, Adani Power 9 percent, Adani Energy Solutions in the lower circuit with a fall of 20 percent, Adani Green Energy 19 percent, Adani Total Gas 10 percent, Adani Wilmar in the lower circuit with a fall of 10 percent, Ambuja Cements fell 12 percent, ACC Limited fell 7 percent. NDTV shares a closed flat.
Adani Group calls bribery allegations baseless.
A statement from Adani Group has come out on the allegations. The spokesperson of the group said that the allegations leveled by the US Department of Justice and the US Securities and Exchange Commission against the directors of Adani Green are baseless and are denied. As the US Department of Justice itself has said, "The allegations leveled in the indictment are merely allegations,, and the defendants are presumed innocent until proven guilty."
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