Lagatar24 Desk
New Delhi, Feb 2: The Reserve Bank of India has asked local banks for information on their exposure to Adani Group entities, following a $100 billion decline in the total market value of the conglomerate since last week,
The development has been confirmed by government and banking officials, according to a report by the news organisation Reuters. A formal comment on the subject has not yet been released by the central bank.
India's central bank (Reserve Bank of India) has asked local banks for details of their exposure to the Adani group of companies, government and banking sources, reports Reuters pic.twitter.com/EHxDfVNmhD
— ANI (@ANI) February 2, 2023
On Thursday, despite the billionaire owner of the company, Gautam Adani, releasing a video statement to reassure investors, shares of Adani Group companies continued to fall on the stock market.
After the organisation cancelled the secondary share sale or FPO of its main firm, Adani Enterprises, the majority of the group’s listed companies fell between 5% and 10%.
Adani Enterprises lost more than 8% of its value, while Adani Ports and SEZ lost more than 3%. The lower circuits were struck by all other listed businesses, including Adani Wilmar, Adani Power, Adani Transmission, Adani Green Energy, and Adani Total Gas. In the early session, NDTV also reached its bottom circuit.
