Adani Total has decreased by 85% this year and has reached the goal price

 Adani Total has decreased by 85% this year and has reached the goal price

According to a news source from Bloomberg, Adani Total's value meets Hindenburg's projection despite a stock decline of 85%. Adani Total Gas Ltd. is the first of the group's seven publicly traded companies to achieve that price after US short seller Hindenburg Research forewarned of an 85% decline in Adani shares nine months before.

According to a Bloomberg article, the conglomerate's city-gas distributor's shares dropped 2.6% to 575.7 rupees on Monday, increasing their losses from their closing price of 3,891.75 rupees on January 24 to 85%.

Even while bonds and stock prices of other Adani firms have subsequently recovered, Adani Total Gas has been the most severely affected, particularly after the ports-to-power company received money from GQG Partners.

According to Bloomberg's news article, the state government of New Delhi has adopted a policy requiring the conversion of all commercial automobiles to electric vehicles by the year 2030, which poses a new challenge for the business. This month, 6% or so of its shares have decreased.

The Electric cars Policy 2.0, which focuses on commercial cars to cut pollution in the nation's capital, is the last one, according to Delhi Transport Minister Kailash Gahlot, who announced this on Friday. Beyond 2030, according to Kailash Gahlot, all cars must be electric.

Speaking on the Electric Vehicles Policy 2.0 last month, Kailash Gahlot said that the policy would explore providing incentives for car retrofitting given its high cost.

The corporation was charged by Hindenburg Research of massive corporate malfeasance, which at one point resulted in a loss of market value of more than $150 billion, in a study that was published on January 24. 

The Adani Group issued a media statement in which it denied all allegations of wrongdoing and expressed dismay that Hindenburg Research had produced a study "without making any attempt to contact the company or establish factual matrix".

"The report is a malicious amalgamation of selective misinformation as well as stale, baseless and discredited charges that the have been tested and rejected by the country's highest courts," according to the report.

It was noted in an early report from a panel the Indian Supreme Court appointed in May that there was no evidence of stock-price manipulation.