Gautam Adani loses big due to fall in stock market

New Delhi: Thestock market of the world has been witnessing tremendous selling for some time now. Because of this, the value of many large companies has been halved. Be it Facebook's parent company Meta or Google's parent company Alphabet or Elon Musk's Tesla, the market capital of all has come down sharply.

The sale has also affected the companies of Gautam Adani, the richest person in India and Asia. Two adani group companies, Adani Wilmar and Adani Power, were giving multibagger returns to investors till a few days ago, but after that, they fell into the grip of a sell-off. Due to this, the market capitalisation of both the companies fell below one lakh crore rupees.

Let us know that Adani Wilmer was listed on the stock market in the month of February this year. After the company's IPO, its shares were listed at a discount in the stock market. After this, adani wilmer's stock was hit by a continuous upper circuit and it reached a 52-week high of Rs 878.35. The spurt increased the market cap of the company to over Rs 0.1 lakh crore. After touching the high level, it declined for 8 consecutive days, with a continuous lower circuit for five days. At present, the company's market capitalisation (Adani Wilmar MCap) is Rs 77,980 crore.

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