Latest News | All 10 Adani Stocks End Lower for 2nd Day; Mcap of Group Firms Erode by Rs 80,096.75 Cr in Two Days

New Delhi, Mar 28 (PTI) Shares of all the ten listed firms of the Adani group ended lower for the second day in a row on Tuesday, with Adani Enterprises tumbling 7 per cent.

The stock of Adani Enterprises tanked 7.06 per cent, the most among the group firms on BSE.

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Shares of Adani Ports slumped 5.66 per cent, Adani Power fell 5 per cent, Adani Transmission (5 per cent), Adani Green Energy (5 per cent), Adani Total Gas (5 per cent) and Adani Wilmar (4.99 per cent).

NDTV dropped 4.99 per cent, ACC declined 4.22 per cent, and Ambuja Cements dipped 2.91 per cent.

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Many of the group firms hit their lower circuit during the day.

In a highly volatile trade in the equity market, the 30-share BSE Sensex ended 40.14 points or 0.07 per cent lower at 57,613.72.

All the ten listed firms of the Adani group had settled in the negative territory on Monday.

The group firms have suffered a combined erosion of Rs 80,096.75 crore from their market valuation in two days of decline in stock prices.

The group stocks have taken a beating on the exchanges since the report by the US-based short-seller Hindenburg Research came in January this year.

The report had 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.

Meanwhile, the NSE and BSE have said that Adani Green Energy will be put under the second stage of the long-term additional surveillance measure (ASM) framework from Tuesday.

In two separate circulars, the bourses said Adani Green Energy will continue in the ASM framework but will be moved to the respective higher stage from March 28.

The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)