Six Adani Group Stocks Settle Lower; Four Firms Hit Upper Circuit Limit | Markets News


New Delhi: Shares of six Adani group firms out of ten listed entities ended the day in the negative territory on Monday amid a volatile trend in the equity markets. At the close, six of the group firms were in the red territory while four were in the green. The stock of Adani Enterprises Ltd (AEL) fell 1.20 percent to close at Rs 1,873.60 apiece on the BSE. The flagship firm’s market valuation dropped to Rs 2.13 lakh crore.

NDTV tanked 4.96 percent to settle at Rs 222.15 apiece on BSE. During the day, the shares of the media firm hit an intra-day low of Rs 222.10 — also its lower price band. (Also Read: ‘Your Deposits Will Be There When You Need Them’: US President Joe Biden On SVB Crisis)

ACC tumbled 4.17 percent to close at Rs 1,770.10, Adani Wilmar plunged 3.95 percent to settle at Rs 435.40 and Adani Ports and Special Economic Zone (APSEZ) declined 2.42 percent to end at Rs 680.95 on the exchange. (Also Read: Mumbai: Woman Switched From iPhone To Android Phone To Activate Credit Card, Duped Rs 7 Lakh- Here’s How)

Also, shares of Ambuja Cements dived 2.78 percent to settle at Rs 367.85 on BSE. However, four Adani group companies, Adani Power, Adani Transmission, Adani Green Energy, and Adani Total Gas jumped 5 percent each.

Adani Power closed at Rs 215.50, Adani Transmission at Rs 949, Adani Green Energy at Rs 717.20, and Adani Total Gas at Rs 997.65 — also their upper price bands on BSE.

The 30-share BSE Sensex tumbled 897.28 points or 1.52 percent to close at 58,237.85 points. The NSE Nifty declined 258.60 points or 1.49 percent to settle at 17,154.30.

On Sunday, embattled Adani Group said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust, post a damning report of a US short seller.

Adani group stocks ended on a mixed note on Friday amid a volatile trend in the equity markets. At close, five of the group companies were in the red while the rest were in green territory.

After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, the group stocks have recovered significantly in the last few trading sessions.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.


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