Adani firms continue to fall; some hit lower circuit intra-day trade limits

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Most of the Adani Group firms continued to remain weak on Friday amid an overall bearish trend in the equity market.

The stock of Adani Transmission fell 5 per cent, Adani Green Energy slipped 5 per cent, Adani Total Gas (5 per cent) and Adani Enterprises (4.98 per cent) on the BSE.

Shares of Adani Power dipped 4.98 per cent, NDTV dropped 4.05 per cent and Adani Wilmar went lower by 3.35 per cent.

However, Ambuja Cements advanced 2.45 per cent, Adani Ports climbed 1.24 per cent and ACC (0.03 per cent).

Shares of eight Adani Group firms out of the ten listed entities had ended in the negative territory on Thursday. Adani Group firms had fallen sharply on Wednesday, with all the listed firms ending in the red.

On Friday, the BSE Sensex fell 141.87 points or 0.24 per cent to settle at 59,463.93. In a bearish trend, the BSE benchmark has tumbled 1,855.58 points or 3 per cent since February 16.

Adani Group stocks have taken a beating on the exchanges after US-based short seller Hindenburg Research last month made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

All the ten listed firms have together lost Rs 12,03,901.43 crore in market valuation since the US short-seller came out with its report on January 24.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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