Adani Group stocks traded mildly positive on Wednesday (September 6), managing to stay in the green for a fourth session in a volatile week. At 11:08 am, shares of Adani Enterprises were trading at Rs 2,495.65 apiece, up 0.03 percent, while Adani Ports rose 0.18 percent to Rs 806.20 on the BSE.

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Adani Energy Solutions Ltd was up 1.67 percent to Rs 826.95, Adani Green Energy inched up 0.07 percent to Rs 962.25, Adani Total Gas rose 0.5 percent to Rs 636.95 apiece and Adani Wilmar jumped 1.14 percent to Rs 354.50 per share on BSE.

Adani Power was also up 1.5 percent to Rs 347.20 apiece, but Adani Group-controlled ACC Ltd was down 1 percent to Rs 2,063.10 and Ambuja Cements was trading unchanged at Rs 440 per share.

Last week, shares of Adani Group companies were under pressure after another investigative report surfaced over various ‘opaque’ stock market transactions.

As many as six of the eight Bermuda and Mauritius-based public funds alleged to have been used by people with ties to the Adani Group for buying shares of the conglomerate's listed companies have been shut, according to a report by Mint.

The Organised Crime and Corruption Reporting Project (OCCRP) in its report said that Mauritius funds were used to channel substantial investments into the stocks of the Adani Group.

However, the Adani Group rejected these allegations made in the report, saying the claims are based on closed cases from a decade earlier.

The group further said that these foreign portfolio investors (FPIs) are already under investigation by the Securities and Exchange Board of India (Sebi).

Adani Group stocks witnessed a decline in market cap of nearly Rs 25,000 crore on August 31, a day after the release of the investigative report by OCCRP.

Earlier, Sebi had submitted its status report to the Supreme Court on the extensive probe it carried out into the alleged stock manipulation by the group.

The report shed light on the progress of the probe, which encompasses a total of 24 investigations related to various aspects of the Adani conglomerate's activities.

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.

The Supreme Court will consider the fresh status report filed by Sebi in the Adani-Hindenburg matter on September 15.

First Published:Sept 6, 2023 12:40 PM IST