Industry

Adani shares fall after India securities depository freezes foreign funds' accounts

Shares of Adani Group companies witnessed a massive drubbing in morning trade on June 14, tumbling up to 25%, amid reports that the National Securities Depository Ltd. (NSDL) has frozen certain FPIs accounts that have holding in some of these firms.

Adani Enterprises tumbled 24.99% to ₹1,201.10, Adani Ports and Special Economic Zone plummeted 18.75% to ₹681.50 on the BSE.

Among others, Adani Green Energy dipped 5% to ₹1,165.35, Adani Total Gas fell 5% to ₹1,544.55, Adani Transmission declined 5% to ₹1,517.25 and Adani Power slumped 4.99% to ₹140.90.

All these stocks hit their respective lower circuit limits.

According to media reports, the National Securities Depository Ltd. has frozen the accounts of three foreign funds which together own shares in four Adani Group companies.

These accounts were frozen on or before May 31, the report added.


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Printable version | Jul 31, 2021 9:31:38 AM | https://www.thehindu.com/business/Industry/nsdl-freezes-3-foreign-funds-with-435-billion-investment-in-adani-group-says-media-report/article34809110.ece

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