The week-long stock rout in Gautam Adani’s companies continued on Friday with stocks extending their fall as the crisis shockwaves spread, triggered by the report from the US-based short seller Hindenburg. The group’s stocks all fell in early session with their market cap falling below ₹ 10 lakh crore, or more than half of their combined value since January 24. The Group stocks market cap was above ₹ 16 lakh crore before the research report. The flagship firm Adani Enterprises shares witnessed their biggest ever intra-day fall as the stock fell down about 25% after the S&P Dow Jones Indices on Thursday said that it would remove shares of Adani Enterprises from widely used sustainability indices, effective February 7, which would make the shares less appealing to sustainability-minded funds. TRENDING STORIES See All Premium As HDFC looks to maintain growth, merger remains on track Premium 5 health effects of consuming too much salt Premium ‘Still can’t believe Elon bought Twitter’: Internet use . . . Premium Google to introduce ChatGPT rival soon Adani Ports and Special Economic Zone was down 14%, while Adani Transmission and Adani Green Energy slumped 10% each. Adani Total Gas, which is a joint venture (JV) with France's TotalEnergies SE, fell 5%. The stock fall intensified as National Stock Exchange (NSE) placed additional surveillance measure (ASM) framework on three Adani group stocks - Adani Enterprises, Adani Ports and Ambuja Cements on Thursday, making them subject to more stringent rules. Hindenburg Research last week accused the Adani group of “brazen" market manipulation and accounting fraud, claiming that a web of Adani-family controlled offshore shell entities in tax havens were used to facilitate corruption, money laundering and taxpayer theft, which the Group termed as ‘baseless’. The Group had scrapped off its ₹ 20,000 crore follow-on public offer (FPO) on Wednesday, a day after it was fully subscribed. Its Chairman Gautam Adani on Thursday had said that it would not be "morally correct" to go ahead with the share sale in the current market condition. “Our balance sheet is healthy and assets, robust. Our EBIDTA levels & cash flows have been very strong & we've an impeccable track record of fulfilling our debt obligations. We'll continue to focus on long term value creation & growth will be managed by internal accruals," he said. MINT PREMIUM See All Premium China is paralysing global debt-forgiveness efforts Premium Adani Group stocks selloff – 10 things you need to know Premium Costly wheat and the cloud over our daily bread Premium Data recap: Massive capex push, Adani FPO In the last five trading sessions, Adani Enterprises shares have crashed over 61% whereas those of Adani Ports and Transmission declined 35% and 21% respectively. ABOUT THE AUTHOR Saloni Kothari Covers markets, personal finance and economy for Livemint and currently hosts the 'Millionaire On A Budget' podcast Read more from this author Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach. Take the test Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. More Less Topics hindenburg gautam adani Adani Enterprises OPEN IN APP.