Shares of all six listed Adani Group companies — Adani Enterprises, Adani Ports and Special Economic Zone, Adani Power, Adani Transmission, Adani Green Energy and Adani Total Gas — fell up to 20 per cent on Monday in intra-day trade on report that National Securities Depository Ltd (NSDL) has frozen accounts of three foreign funds that own stake in four of these group companies.
A report in the Economic Times on Monday said that NSDL froze accounts of three FPIs – Albula Investment Fund, Cresta Investment Fund and APMS Investment Fund on or before May 31.
These investment funds together own over ₹43,500 crore worth of shares in four Adani Group companies, with 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, the ET report said.
The report further added that Sebi has also initiated an investigation into the stock price movement of Adani companies.
Meanwhile, business journalist Sucheta Dalal was trending high on Twitter after users attributed the drop in shares of Adani group of companies to a tweet by her. Dalal had hinted at a “scandal” involving possible rigging in favour of stock prices of a group of companies. Dalal didn’t name any company in her tweet.
Check out some of the Twitter reactions here: