Adani Enterprises falls 11%, other group stocks fall heavily after Wikipedia claim

stock of Adani Group flagship Adani Enterprises closed down 11.43 per cent. 1,391.55 per share on the NSE at around 12:40 pm.

In today’s business, many companies of Adani group also installed their lower circuit.

Shares of Adani Power declined 5 per cent, Adani Transmission 5 per cent, Adani Total Gas (5 per cent), Ambuja Cements (5 per cent), Adani Green Energy (4.99 per cent), Adani Wilmar (4.99 per cent) and NDTV. Is. (4.55 percent).

Adani Ports shares declined by 5.77 per cent and ACC by 5.75 per cent.

wikipedia on line

“More than 40 subsequently banned or blocked fake puppets or undisclosed paid editors created or modified nine related articles on the Adani family and family businesses. Many of them edited multiple articles and added non-neutral content or puffery. An alleged paid editor, using a company IP address, completely rewrote the Adani Group article,” read an article on signpost run by Wikipedia,

Nate Anderson, founder of Hindenburg Research, said in a tweet that the Signpost article shows Adani systematically manipulated his Wikipedia entries by using fake puppet accounts, undisclosed paid editors, and removing evidence of conflicts of interest.

The group’s market capitalization (m-cap) has slipped below the $100 billion mark as selling intensified in most of the Adani Group firm’s listed counters.

Since late January this year, the group’s shares took a major hit on the exchanges after US-based short seller Hindenburg Research leveled allegations against it, including fraudulent transactions and share-price manipulation. The Adani Group, however, dismissed the claim as baseless.

Meanwhile, the broader equity market also turned weak as the BSE Sensex fell 596.95 points, or 0.98 per cent, to 60,075.77 in morning trade. So far in 2023, both Sensex and Nifty have declined by around 0.9 per cent and 2.14 per cent.