Business

Shares of Adani Group fell by 5-20%, know why there is a ruckus in the shares?

ADANI PORTS is down 15%. Other shares of the group have also slipped by 5 to 10 percent.

There is a huge decline in the shares of ADANI GROUP. ADANI PORTS is down 15%. Other shares of the group have also slipped by 5 to 10 per cent. Selling has been seen after the account freeze of 3 FPIs investing in the group. NSDL has banned trading in securities on all three funds.

The accounts of Albula Investment, Cresta Fund, APMS Invest have been frozen. All three funds have shares of Adani Group worth Rs 43500 crore. NSDL has banned trading in securities on all three funds.

The account freeze means that these three FPIs will neither be able to buy nor sell any shares of these companies. Explain that these three FPIs have bought shares worth more than Rs 43500 crore in Adani Enterprises, Adani Green Energy, Adani Transmission and Adani Total Gas.

According to the Business Daily report, these three funds are registered at the same address in the city of Port Louis, Mauritius. They don’t even have their own website. These funds hold 6.82 per cent in Adani Enterprises, 8.03 per cent in Adani Transmission, 5.92 per cent in Adani Total Gas and 3.58 per cent in Adani Green.

Let us tell you that 6 companies of Adani Group are listed in the market. Including Adani Port and Adani Power. Due to this news, today’s early trading Adani Green, Adani Transmission and Adani Gas hit the lower circuit of 5 per cent on NSE. On the other hand, Adani Enterprises saw a decline of 20 percent.

According to media reports, SEBI is also investigating whether price manipulation has been done in the shares of Adani Group. Let us tell you that in the last one year, the shares of Adani Group have seen an increase of 200-1000 percent.

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