The shares of Adani group companies on Thursday after news reports based on documents released by a group of investigative journalists alleged that offshore entities controlled by the Adani family's associates made millions in profits, which were used to support the group's share prices between 2013 and 2018.
Barring ACC, which rose by 0.47 per cent, the Adani group stocks fell between 2.2 per cent and 4.4 per cent, reducing the combined market capitalisation of group companies by around ₹36,000 crore.
This has dealt a fresh blow to the ports-to-power conglomerate, already reeling from the impact of the US-based short-seller Hindenburg Research's accusations, made on January 24 this year, of corporate fraud and stock market manipulation.
The group has since suffered a decline of ₹8.4 trillion in market capitalisation.
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