Adani Transmission Shares Slump 5% After Large Deal

Adani Transmission shares on Friday fell over 5 per cent after 3.8 crore shares or 3.45 per cent of the company's total equity exchanged hands in three large trades.

According to the exchange data the shares that changed hands were worth Rs 795 per share aggregating the total to Rs 3,103 crore. But the buyers and the sellers of the shares are not yet known.

The stocks of the company heavily declined due to heavy volumes as a result of the transaction. The volumes are over 18.4 times of the three-month full-day average.

Bulk sale by Adani Green Energy and Adani Enterprises

This comes days after Adani Green Energy and Adani Enterprises saw multiple large transactions that valued approximately Rs 8,000 crore. According to exchange data Goldman Sachs Trust II- Goldman Sachs GQG Partners Internal Opportunities Fund bought stakes in Adani Green whereas SB Adani Family Trust and Infinite Trade an Investment were the ones to sell the deal.

Adani Group shares trade lower

The shares of Adani Ports was down by 2.12 per cent whereas Adani power and Adani Enterprises was down 1 per cent and ACC, Adani Total Gas, Adani Wilmar and Ambuja were trading comparatively flat. However, NDTV's shares were trading with modest gains.