Adani Group’s transmission, Power, and Total Gas down by 5% each on BSE

The shares of the three Adani group companies- Adani Power, Adani Transmission, and Adani Total Gas, were locked in lower circuit for the third consecutive day. The shares were down by 5 per cent each on the BSE on Wednesday despite the NSDL clarifying that the accounts of three foreign funds held nearly Rs.43,000 crore worth of Adani group shares which are active and not frozen.

The Adani Green Energy fell 4 per cent to Rs.1,165 in intra-day trade and is trading in ‘T’ group on the BSE and ‘BE’ segment on the National Stock Exchange (NSE). The shares falling in the trade-to-trade are traded in the BE series and no intraday is allowed which means that trades could only be settled by accepting or giving the delivery of shares.

The shares of the two companies Adani Ports and Special Economic Zone was down by 5 per cent to a sum of Rs.726.50 on the BSE and the Adani Enterprises fell by 3 per cent in the intra day trade today. With the later having a 0.40 per cent decline in the S&P BSE Sensex.

NDAL informed that the status of the Demat account of the shareholders could be verified from NSDL DPM (SHR) system available with your Registrar and Transfer Agent and the beneficiary position details downloaded with the RTA. The current status of the Demat accounts of the shareholders are available in the DPM system. 

In clarification to a news article, the Adani Enterprises as well as other companies mentioned, these reports were done to mislead the investing community, which has caused irreparable loss of economic value to the investors at large and reputation of the group.

On Monday, the stock of Adani Enterprises rebounded 28 per cent from a low of Rs.1,201. The Company’s business model for the past 25 years had been to demerge matured business vertical.

Adani Enterprises clarified that the company regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholders value and that may involve discussions with various parties and stakeholders at different points in time. However, they said that these discussions may not always culminate in transactions and accordingly they would like to avoid the speculative updates.

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