The Hindenburg report recently chalked out a new set of allegations against the Adani Group. In this new report, the short-selling group has claimed that the funds associated with the Ahmedabad-based company have been frozen by the authorities in Switerzland. The Adani Group denied these allegations, calling them "preposterous, irrational and absurd".
Despite the rebuttal, Adani Group companies appear to be struggling at the equity markets, as shares of the companies part of the conglomerate are trading in red on Friday, September 13.
Adani Enterprises Ltd
Firstly, when we look at the group's flagship, Adani Enterprises, the entity's shares dropped 0.50 per cent or Rs 14.90, tracking the overall value of the shares to Rs 2,976.10 per piece at the time of writing.
Adani Ports and Special Economic Zone Ltd.
Another major Adani company that has recently seen its profile rise. the Adani Ports also saw its shares trade in red. Adani Ports' stock price dropped by 0.93 per cent or Rs 13.70, taking the overall value of the shares to Rs 1,458.90.
Adani Power Ltd
Another key entity, Adani Power, appears to be faring worse than other Adani stocks, as the company shares dropped by a mammoth 1.51 per cent or Rs 9.80. This took the overall value to Rs 641.30 per share.
Adani Green Energy Ltd
Another energy company, Adani Energy, also saw its shares slip in red. The company stock price dipped to Rs 1,801.50. This came to pass after a decline of 0.57 per cent or Rs 10.40.
Adani Total Gas Ltd
Adani Total Gas saw a minor decline of 0.12 per cent or Rs 0.95; this took the overall value of the shares to Rs 804.85 per share.
Adani Wilmar Ltd
The Adani Wilmar shares, however, were the silver lining to the day's proceedings, as the company shares, at the time of writing, were trading in green. The company shares gained 0.68 per cent or Rs 2.45. This took the overall value to Rs 364.50 per share.
