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.