Shares of Adani Group companies are trading with losses ranging from 2-5 percent after another investigative report over its various transactions that were released yesterday.
NSE
Both Adani Ports and Adani Enterprises are down 2.5 percent each and are the top losers on the Nifty 50 index. Other group companies are also trading with losses of over 2 percent each.
| Stock | Returns |
| Adani Enterprises | -2.50% |
| Adani Ports | -2.60% |
| Adani Green Energy | -2.60% |
| Adani Power | -2.50% |
| Adani Total Gas | -2.10% |
| Adani Energy Solutions | -1.80% |
| Adani Wilmar | -1.75% |
| ACC | -2% |
| Ambuja Cements | -2.50% |
| NDTV | -1.60% |
Today's drop has resulted in a market capitalisation erosion of Rs 25,000 crore so far. Shares of Adani Enterprises, at one point, were down 5 percent.
The Adani Group has rejected the allegations made in the report, saying that the claims are based on closed cases from a decade earlier.
The group further said that these FPIs are already under investigation by SEBI.
Last week, market regulator SEBI submitted its status report on the extensive probe it carried out into the alleged stock manipulation by the group to the Supreme Court.
The report shed light on the progress of the extensive probe, which encompasses a total of 24 investigations related to various aspects of the Adani conglomerate's activities.
Out of these 24 investigations, 22 have already reached their conclusion, resulting in the issuance of final investigation reports. Additionally, one interim investigation report has been prepared as part of the ongoing scrutiny of Adani Group's operations.
The hearing in the Supreme Court, which was supposed to take place on August 29, was postponed. A new date is yet to be announced.
First Published:Aug 31, 2023 12:43 PM IST
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