Shares of Adani Group fell after news of NSDL’s action
Adani Group and investors suffer huge losses as shares fall
MUMBAI: The National Securities Depository Limited (NSDL), which regulates the stock market, has hit out at three foreign investors. However, despite reports by the Adani Group that the news of NSDL’s action was falsified, it had affected shares of companies in the group.
The three foreign investors who have been sued by NSDL have invested heavily in Adani Group companies. Shares of Adani Group fell.
NNDL froze the accounts of three foreign investors who had invested in various Adani Group companies. The three investors have invested about Rs 43,500 crore in various Adani Group companies. Therefore, sealing the accounts of these investors has had a direct impact on the shares of Adani Group companies.
Shares of companies have fallen. In an hour, Gautam Adani has lost Rs 73,000 crore, while investors in the Adani Group have lost Rs 1 lakh crore.
NSDL has frozen the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. According to the investor’s website, NSDL may have frozen the accounts on or before May 31.
As soon as the news of NSDL’s action came out, it had repercussions in the stock market. Shares of Adani Group companies plunged. Shares of Adani Enterprises fell 15 per cent to Rs 1,361.25. Adani Port and Economic Zone fell 14 per cent.
This also affected Adani Power’s shares. The company’s shares fell 5 percent. Shares of Adani Transmission, Adani Green Energy and Adani Total Gas also fell 5 per cent each.
Investors in all the three accounts are said to be based in Mauritius, with 6.82 per cent in Adani Enterprises, 8.03 per cent in Adani Transmission, 5.92 per cent in Adani Total Gas and 3.58 per cent in Adani Green Energy.