Adani Group Shares Continue Downslide Despite Clarification

Adani Group shares were largely trading lower and the damage caused by reports on Monday of three foreign funds shares being frozen continued.

Adani Group shares had been hit after reports that the National Securities Depository Ltd (NSDL) froze the accounts of the three foreign funds that are among the top stakeholders in the firms, which the company denied.

Here's how the Adani group shares are doing today?

Barring Adani Enterprises, which was marginally up, all other stocks were trading in the red. In fact, Adani Power shares were stuck at the lower end of the circuit filter with only sellers in the counter.

The Adani group had said that reports of NSDL freezing accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in the group firms were "blatantly erroneous and is done to deliberately mislead the investing community."

"This is causing irreparable loss of economic value to the investors at large and reputation of the group," they said. Given the seriousness of the issue and its consequential adverse impact on minority investors, "we requested Registrar and Transfer Agent, with respect to the status of the Demat Account(s) of the aforesaid funds and have their written confirmation vide its e-mail dated 14th June, 2021, clarifying that the Demat Account(s) in which the aforesaid funds hold the shares of the company are not frozen," the firms said.