INDIA'S BIGGEST BILLIONAIRE'S BIGGEST LOSS

The market value of all Adani Group companies has dropped below Rs 8 lakh crore today, down more than Rs 51,000 crore from yesterday's level, as the decline in the value of the group's equities continues. Since February 14, it's been two weeks since the biggest single-day decrease. The market value of the Gautam Adani-led company has dropped by about Rs 12 lakh crore, or more than 60% from its high, since January 24, the day US-based Hindenburg Research released its report on Adani Group alleging fraud.

STOCK VALUES ARE AT LOW:  

All of the Adani stocks are trading lower during today's trading session, with the declines ranging from 5 to 11 percent. The remaining nine companies are each down 5% while Adani Enterprises is down by more than 11%.

Even as the group companies prepay mutual funds, the stock price continues to plummet. SBI MF, HDFC MF, and ABSL MF have all received prepayments over the past two days for commercial paper-related February obligations. Furthermore, it has announced that March dues can be paid in advance.

During a recent discussion with institutional investors, a senior Adani Group official emphasised the significance of cashflows since rating agencies frequently use them as a gauge of liquidity and solvency.

THE BUSINESS IS CONFIDENT:

The official stated, "For the organisation to avoid the danger of being unable to pay its dues and keep its present sovereign equivalent rating, it is crucial that it have appropriate cash." The next major maturity for the group is in 2031, and he continued by saying that the business is confident in its ability to make cash repayments until 2027.