How much did Adani and Ambani, and other business leaders lose when Narendra Modi’s political union failed to get a clear majority? Bloomberg’s report has some very scary things to say about this.
The fact that Modi’s political union failed to get a clear majority has cost the Indian stock market and tycoons trillions of rupees. Gautam Adani lost 69 trillion 64 billion rupees, which is the most money that anyone has ever lost in one day. Mukesh Ambani lost 7 trillion rupees, the Jindal family lost 5 trillion rupees, and Kumar Mangalam lost more than 2 trillion rupees.
“Jang” says that Indian businessman Gautam Adani’s wealth dropped by about 69.64 billion rupees ($25 billion) on Tuesday. This was the biggest loss for an Asian billionaire in a single day.
Adani and Ambani
Bloomberg says that on Tuesday, the value of the stocks of Adani Group’s public companies dropped by 125 trillion 35 billion rupees, which is about $45 billion. 1 trillion rupees, or 386 billion rupees, fell off the Indian stock market. Stock values of companies Adani and Ambani controlled by billionaire Gautam Adani fell. Adani is associated with the prime leader and Modi’s expansionist goals. With losses of Adani and Ambani 19% and 21% in late trade, the group’s principal companies, Adani Enterprises and Adani Ports and Special Economic Zone, were the largest losers on the Nifty 50 index.
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