Adani stocks nosedive on report of FPI account freeze: Investors caught in crossfire
Adani stocks nosedive on report of FPI account freeze: Investors caught in crossfire

A day after a few Adani Group stocks nosedived, the stocks of some companies have gone up.

At 11.20 AM, these were the stock prices for Adani group shares. Shares of Adani Green were up Rs 26.05 or 2.22 percent at Rs 1,202.00 each share. Adani Enterprises was up Rs 5.5 or 0.38 percent at Rs 1,506.90.

Share price of Adani Transmission was down Rs 75.85 or (-)5 percent at Rs 1,441.40. Adani Power was down Rs 7 or (-)4.97 percent at Rs 133.90. Adani Gas shares were down Rs 77.20 or (-)5 percent at Rs 1,467.35.

Share price of Adani Transmission, Adani Power and Adani Gas were down 5 percent each while that of Adani Green shed 2 percent. Adani Ports was down Rs 2.95 or (-)0.38 percent at Rs 765.75.

On Monday, Adani Ports clarified that the media reports on freezing of accounts of foreign funds were published to deliberately mislead the investing community.

In a stock exchange filing, Adani Ports has clarified its stand on the reports that NSDL has frozen the accounts of three foreign funds - Albula Investment Fund, Cresta Fund and APMS Investment Fund -- holding shares in the Adani Group companies.

"We regret to mention that these reports are blatantly erroneous and are done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and the reputation of the group," Adani Ports said.

"Given the seriousness of the article and its consequential adverse impact on minority investors, we requested the Registrar and Transfer Agent, with respect to the status of the Demat accounts of the aforesaid funds, and have their written confirmation vide e-mail dated June 14, 2021, clarifying that the Demat accounts in which the aforesaid funds hold the shares of the Company are not frozen," the company said.

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