Adani Group
Adani Total up 921%, Adani Enterprises up 890% vs 60% for Nifty in last 1 year
Adani Group stocks have been scorchers in the stock market in the last year before they started unravelling in the last three days and have been going down ever since. Adani Group investors have seen wealth erosion of Rs 1.10 lakh crore in the last three trading sessions. Adani Enterprises was down 5.82 per cent at Rs 1449.30.
Adani stocks characterised by similar set of FPIs, low mutual fund holdings
The Adani Group stocks also have the same set of foreign portfolio investors among the big shareholders in that category. Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in Adani Group Companies were in a controversy yesterday on reports that their share accounts were frozen but was later clarified that they are active.
NSDL says accounts of foreign funds holding Adani stocks not frozen: Report
Reports of a freeze on the accounts sent several Adani stocks plummeting earlier on Monday. The freeze is on accounts of the funds that hold certain other securities and it is not new, the source said. "NSDL hasn't taken any action now," the source told the global news wire. Earlier, Adani Ports had clarified that the media reports on freezing of accounts of foreign funds were published to deliberately mislead the investing community.
Adani Ports denies reports on NSDL freezing accounts of foreign funds
In a stock exchange filing, Adani Ports was clarifying on reports that NSDL has frozen the accounts of 3 foreign funds- Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in Adani Group Companies. "We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community.
Adani Group stocks slump as NSDL freezes accounts of 3 FPIs holding shares in group companies
As per reports, the freeze on the three accounts could be because of insufficient disclosure of information regarding beneficial ownership under the Prevention of Money Laundering Act (PMLA). Adani stocks have been rising phenomenally and added over $40 billion to Gautam Adani's wealth this year.
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