Reports of frozen a/cs blatantly erroneous: AdaniJune 14, 2021 15:40
Protests against Adani in Australia in 2019
Adani Ports & Special Economic Zone Limited says the news reports stating that NSDL has frozen accounts of 3 foreign funds holding shares in Adani Group companies are "blatantly erroneous and is done to deliberately mislead the investing community."
Shares of Adani Group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 per cent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have holding in some of these firms.
Adani Enterprises tumbled 24.99 per cent to Rs 1,201.10, Adani Ports and Special Economic Zone plummeted 18.75 per cent to Rs 681.50 on the BSE. Among others, Adani Green Energy dipped 5 per cent to Rs 1,165.35, Adani Total Gas fell 5 per cent to Rs 1,544.55, Adani Transmission declined 5 per cent to Rs 1,517.25 and Adani Power slumped 4.99 per cent to Rs 140.90.
All these stocks hit their respective lower circuit limits. According to media reports, the National Securities Depository Ltd has frozen the accounts of three foreign funds which together own shares in four Adani Group companies.
HDFC's exit to ease fund-raising conditions for high-rated finance firms
Highly-rated finance firms and housing finance companies are expected to benefit from the absence of Housing Development Finance Corp (HDFC) from the bond market once it merges with the HDFC Bank in early FY24. Post merger, the bond...