Eight Adani Group Firms End Lower; Some Hit Lower Circuit Limits During The Day

Shares of eight Adani Group firms out of the ten listed entities ended the day in the negative territory, extending their previous day decline, amid an overall weak trend in the equity market. On Thursday, Adani Transmission stock declined by 5 per cent, Adani Green Energy dipped 5 per cent, Adani Total Gas (4.99 per cent) and Adani Power (4.98 per cent) on the BSE.

Shares of Adani Wilmar fell 3.97 per cent, Adani Enterprises slipped 1.51 per cent, ACC (0.82 per cent) and NDTV (0.45 per cent). Some of the group firms also hit their lower circuit limits during the day. However, two group firms managed to end the trade in the green, with Adani Ports climbing 0.96 per cent and Ambuja Cements gaining 0.43 per cent.

Shares of Adani Group firms had fallen sharply on Wednesday, with all the listed firms ending in red. In the broader market, the BSE Sensex fell 139.18 points or 0.23 per cent to settle at 59,605.80, registering its fifth day of decline. Adani Group stocks have taken a beating on the exchanges after US-based short seller Hindenburg Research last month made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. All the ten listed firms have together lost Rs 11,81,750.04 crore in market valuation since the US short-seller came out with its report on January 24.