STOCK MARKET BSE NSE

After bloodbath, Adani shares make decent gains

Friday's marginal gain is a relief for the port-to-energy conglomerate whose six listed stocks had fallen 9-22 per cent in the first four days of this week.

Published: 19th June 2021 09:42 AM  |   Last Updated: 19th June 2021 09:42 AM   |  A+A-

Adani Group Chairman Gautam Adani

Adani Group Chairman Gautam Adani (Photo | PTI)

By Express News Service

NEW DELHI: Shares of Adani Group flagship Adani Enterprises' (AEL) and Adani Ports (APSEZ) made decent gains on Friday even as three Group companies - Adani Power, Adani Total Gas and Adani Transmission - hit their 5 per cent lower trading limit for a fifth straight session on Friday. 

AEL ended the Friday session at Rs 1,488 on the BSE, up 9 per cent from Thursday’s closing while APSEZ closed at a high of 7 per cent to Rs 695. Adani Green Energy, however, fell 4.5 per cent. 

Friday's marginal gain is a relief for the port-to-energy conglomerate whose six listed stocks had fallen 9-22 per cent in the first four days of this week, wiping out the Group's market capitalisation value by over Rs 1.5 lakh crore and promoter Gautam Adani’s wealth by USD 12 billion. 

Despite Friday's gain, most Adani stocks this week will register their biggest weekly loss ever. To note, Adani stocks have gained 200-1,000 per cent the past one year, backed by the group’s rapid expansion and record number of contract winnings. 

Adani company stocks have been going southward since a report on Monday said NSDL had frozen accounts of three Mauritius-based FPIs which owns shares worth over Rs 43,500 crore in four Adani firms.

The Adani group has termed the report blatantly erroneous and aimed at deliberately misleading the investor community. It also claimed the three accounts in question are very much active. However, investors are not yet satisfied with the clarification.

According to the NSDL website, the accounts of Albula Investment Fund, Cresta Fund, and APMS Investment Fund were frozen on or before May 31. All these fund houses share a common location (Port Louis, Mauritius) and do not have websites. 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp