Shares of most companies of Adani group continue to decline
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After this step of FSCI, the stock of Adani Enterprises came down by four percent. Eight Adani group companies ended with losses, while two others closed with gains amid a mixed trend in the market.
Shares of most of the Adani group companies closed with losses on Friday as well. MSCI, which provides financial indices, has said it is downgrading the ‘free float’ status of certain securities of group companies. After this step of FSCI, the stock of Adani Enterprises came down by four percent. Eight Adani group companies ended with losses, while two others closed with gains amid a mixed trend in the market. The market capitalization of Adani group companies declined by 3.3 per cent on February 10 following MSCI’s decision.
Deepak Jasani, head of retail research at HDFC Securities, said the market capitalization of group companies is now down 51 per cent as compared to January 24. Shares of Adani Enterprises closed at Rs 1,847.35, down 4.15 per cent on the BSE. It fell 10 per cent to Rs 1,734.60 during the day. The company’s market capitalization declined by Rs 9,114.31 crore to Rs 2.10 lakh crore.
Shares of Adani Power closed at Rs 164.30. Similarly, Adani Transmission was at Rs 1,186.15, Adani Green Energy at Rs 723.90 and Adani Total Gas at Rs 1,258.25. Shares of NDTV fell 3.65 per cent to Rs 208.65, ACC fell 1.85 per cent to Rs 1,881 and Adani Wilmar fell 0.95 per cent to Rs 436.10. However, Ambuja Cements scrip closed at Rs 361.05, up 0.85 per cent. While Adani Ports and Special Economic Zone shares closed at Rs 583.85, up 0.31 per cent. The 30-share BSE Sensex closed at 60,682.70, down 123.52 points, or 0.20 per cent.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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