NSDL’s (National Securities Depository Limited’s) actions against three Adani top stakeholder foreign funds causes shares of Adani Group companies to fall sharply on the stock market.
All six listed Adani group companies have plunged on stock exchanges to hit lower circuits after the development was reported.
The shares of Adani Enterprises at 11:30 am, were down 13.27 per cent at Rs 1,387.60 per share; Adani Green Energy was down 5 per cent at Rs 1,156.85 per share; Adani Total Gas was down 5 per cent at Rs 1,544.90 per share; Adani Transmission was down 5 per cent at Rs 1,522.50 per share.
It may be noted that Adani Enterprises Limited shares declined as much as 25 per cent to hit an intraday low of Rs 1,201.10, down over Rs 400 from last week’s close of Rs 1,601.45.
The flagship company’s market cap on the Bombay Stock Exchange fell to Rs 1.4 lakh crore. The stock has gained over 700 per in the past year, at least 200 per cent since the beginning of this year.
Shares of Adani Ports and SEZ also fell 19 per cent to hit an intraday low of Rs 681.60 and the market cap declined sharply to Rs 1.4 lakh crore.
The remaining listed companies of Adani Group — Adani Total Gas, Adani Green Energy, Adani Adani Power and Adani Transmission — hit 5 per cent lower circuits.
