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All 10 Adani Group Firms End Lower; Adani Power, Adani Transmission Fall Nearly 5%
Many of the group firms hit their lower circuit limits during the day.
New Delhi: All the ten listed firms of the Adani group ended the day in the negative territory on Monday, with Adani Power, Adani Transmission, Adani Wilmar, and Adani Total Gas falling nearly 5 percent each. Shares of Adani Power tanked 4.98 percent, Adani Transmission tumbled 4.98 percent, Adani Wilmar dived 4.93 percent and Adani Total Gas slumped 4.91 percent on the BSE.
The stock of NDTV went lower by 4.60 percent, Adani Green Energy fell by 4.40 percent, Adani Ports dropped 1.43 percent, ACC dipped 1.01 percent, Adani Enterprises declined 0.99 percent and Ambuja Cements (0.59 percent). (Also Read: India Can Build Something Equivalent To AI ChatGPT? Ashwini Vaishnaw Says Big Announcement In Few Weeks)
Many of the group firms hit their lower circuit limits during the day. In the equity market, the 30-share BSE Sensex climbed 126.76 points or 0.22 percent to finish at 57,653.86 after a volatile trade. (Also Read: Credit Cards For UPI Payment? Bank Of Baroda Enables This Service - Check How To Activate It)
Out of the ten listed firms of the Adani group, seven companies ended the day in the negative territory on Friday. Stocks of eight Adani group companies out of the 10 listed entities closed in the green on Wednesday. On Thursday, five group stocks ended higher, while five of them finished lower.
The group stocks have taken a beating on the exchanges since the report by the US-based short-seller Hindenburg Research came in January this year. The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.
The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Meanwhile, the NSE and BSE on Friday said Adani Total Gas and Adani Transmission will move to the first stage of the long-term additional surveillance measure framework from March 27.
On March 10, both exchanges put the two companies under the second stage of the long-term Additional Surveillance Measure (ASM) framework. In two separate circulars, the bourses said these securities will continue in the framework but will be moved from respective lower stage ASM from March 27.
The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation, and price-earning ratio.