6 Adani Group shares fell, 4 firms hit upper chain limit

At the time of closing, six of the group’s firms were in the red zone and four were in the green zone.

New Delhi:

Shares of six Adani group firms ended the day in negative territory amid a volatile trend in equity markets on Monday.

At the time of closing, six of the group’s firms were in the red zone and four were in the green zone.

Shares of Adani Enterprises Ltd (AEL) were down 1.20 percent at Rs 1,873.60 on the BSE. The market value of the flagship firm has dropped to Rs 2.13 crore.

NDTV fell 4.96 percent to Rs 222.15 apiece on the BSE. Shares of the media firm touched an intraday low of Rs 222.10 during the day, which was also at the lower end of its price range.

ACC fell 4.17 percent to close at Rs 1,770.10, Adani Wilmar fell 3.95 percent to Rs 435.40 and Adani Ports and Special Economic Zone (APSEZ) shed 2.42 percent to end at Rs 680.

Also, shares of Ambuja Cements fell 2.78 percent to settle at Rs 367.85 on the BSE.

However, the four Adani group companies, Adani Power, Adani Transmission, Adani Green Energy and Adani Total Gas each grew by 5 percent.

Adani Power closed at Rs 215.50, Adani Transmission at Rs 949, Adani Green Energy at Rs 717.20 and Adani Total Gas at Rs 997.65, also at the top of their price ranges on the BSE.

The 30-share BSE Sensex closed down 897.28 points, or 1.52 percent, at 58,237.85. The NSE Nifty was down 258.60 points, or 1.49 percent, at 17,154.30.

Struggling Adani Group said on Sunday it had paid off $2.65 billion in loans to end a prepayment program by a March 31 deadline to reduce overall leverage in a bid to restore investor confidence, a report by a US short seller revealed.

Shares of Adani Group ended on a mixed note on Friday amid a volatile trend in stock markets. Recently, five of the group companies were in the red area and the rest were in the green area.

The group’s shares have recovered significantly over the past few trading sessions after taking a hit on the stock market following a report by US short seller Hindenburg Research.

The report made numerous allegations against him, including fraudulent transactions and stock price manipulation.

The group has denied the allegations as false, saying it complies with all laws and disclosure requirements.

(This story was not edited by NDTV staff and was automatically generated from the syndicated channel.)

(Disclaimer: New Delhi Television is AMG Media Networks Limited, a subsidiary of Adani Group.)

Featured image of the day

GDP growth slows in Q2, 4.4% growth in Q3

Leave a Comment