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Adani Port and Adani Power Shares Slump Sharply
Adani Ports and Special Economic Zone Ltd lost more than Rs 5,000 crore in market capitalization as its share price dipped over 6 percent in trade today. The country's largest multi-port operating company reported a weak performance for the first quarter of the financial year 2018-19, making it one of the biggest losers in the stock exchanges for the day.
Shares of Adani Ports and Special Economic Zone slumped as much as 6.68 percent to a two-week low of Rs 371.2 on BSE (Bombay Stock Exchange) while the stock declined 6.61 percent to Rs 371.1 on NSE (National Stock Exchange).
Another stock of the Adani Group, Adani Power fell by over 9 percent after the company reported a net loss of Rs 825 crore for the quarter through June as a result of poor operating performance. Similarly, Adani Green Energy, Adani Enterprises and Adani Transmission shares fell by 5 percent, 4.5 percent and 2.6 percent respectively.
