This story is from February 04, 2023
Total: No revaluation of stake in Adani JVs
NEW DELHI: French energy major Total Energies on Friday said it has not revalued its stakes in joint ventures with the Adani group after their stocks plummeted and its exposure in Adani Total Gas and Adani Green Energy accounted for 2. 4% of the total capital employed.
The market capitalisation of Adani Total Gas has dropped by $30 billion as its shares plunged by nearly 60% since the report was released. The market value of Adani Green Energy has more than halved. In September last year, Total CEO Patrick Pouyanne had said AGEL stake was purchased for $2 billion, a value he estimated to have risen to $10 billion in late 2022.
The market capitalisation of Adani Total Gas has dropped by $30 billion as its shares plunged by nearly 60% since the report was released. The market value of Adani Green Energy has more than halved. In September last year, Total CEO Patrick Pouyanne had said AGEL stake was purchased for $2 billion, a value he estimated to have risen to $10 billion in late 2022.
Top Comment
Godfather Senior
664 days ago
All the Adani group shares will surely pick up and bounce back to its original values soon. Now the air is clear, that the ecosystem of congress and cummies together with their partners in crime across the borders are surely exposed. We know now, why ONLY Indian corporate houses are attacked and why not the tax cheating rouges MNC from the west, who also clandestinely operate from India. Yes, the presstitutes and media, as instructed by their bosses across Indian borders do their dirty job to discredit India. That itself is enough for us to vote for BJP and make India still stronger to throw out these leeches namely congress & communists.Read allPost comment
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