Bangalore: Twenty private companies lost $36 billion or Rs.1,81,132 crore from their market cap last financial year, 2011-12, reports Ranjit Shinde and Rajesh Naidu of the Ranjit Shinde & Rajesh Naidu of ET Bureau.
AV Birla, Bajaj and Hero Group are the companies who gained the most but Adani group and Reliance are among those who lagged behind and disappointed their investors. The top wealth losers of last financial year are as follows -
1. Adani Group
Adani Group topped the list of 20 private sector companies, which altogether lost almost $36 billion. The Adani Group lost almost half of its market capitalization last year immediately after a report from Karnataka Lokayukta rapped the company for its suspected involvement in illegal iron ore transportation activities. Other companies of this group like Adani Power, Adani Port and Special Economic Zone also fell in their stock value.
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