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Shares of Adani Enterprises tumbled 6.79 per cent, Adani Transmission plunged 6.38 per cent, Adani Power declined 5.61 per cent and Ambuja Cements tanked 4.19 per cent on the BSE. Adani Ports fell by 4.16 per cent, NDTV slumped 3.46 per cent, ACC declined 3.46 per cent, Adani Wilmar skidded 3.42 per cent, Adani Total Gas went lower by 3.21 per cent and Adani Green Energy dipped 1.50 per cent.
In the equity market, the 30-share BSE Sensex fell 259.52 points or 0.41 per cent to settle at 62,979.37.
”Adani group stocks came under selling pressure on Friday when the broader market was anyway under profit-taking mode. An additional reason for the group stocks to fall was the news of Adani Group drawing regulatory scrutiny in the US after a short seller report. ”The US Attorney’s Office in Brooklyn, New York, has reportedly sent inquiries in recent months to institutional investors with large holdings in Adani Group. The requests for information were focused on what Adani Group told those investors,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
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Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.