Shares of most Adani Group companies continue to decline
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America’s short selling company Hindenburg Research has accused Adani Group of fraud in its report. Since this report, the shares of the group companies have been continuously falling and this is the fourth consecutive session when they have declined.
New Delhi. Shares of most of the Adani Group companies continued to decline in early trade on Tuesday. America’s short selling company Hindenburg Research has accused Adani Group of fraud in its report. Since this report, the shares of the group companies have been continuously falling and this is the fourth consecutive session when they have declined. The Hindenburg report came on January 24, just before the Rs 20,000 crore follow-on public offering (FPO) by Adani Enterprises.
However, the allegations made in this report have been denied by the Adani Group. Shares of group companies have broken for the fourth consecutive day on BSE. Adani Total Gas shares fell 10 percent in early trade. On the other hand, Adani Green Energy lost 9.60 percent, Adani Transmission 8.62 percent, Adani Wilmar five percent, Adani Power 4.98 percent, NDTV 4.98 percent and Adani Ports 1.45 percent.
However, Adani Enterprises gained 5.26 per cent, Ambuja Cements gained 5.25 per cent and ACC gained 2.91 per cent. At the same time, LIC’s share fell 0.82 percent on Tuesday morning, while Punjab National Bank (PNB) rose 3.74 percent. Shares of most of the companies of the Adani group declined on Monday as well.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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