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regular-article-logo Friday, 04 October 2024

Adani flagship stock dips

Shares of the cement firm ACC finished marginally lower at Rs 1,839.85, down 0.08 per cent over its last close

Our Special Correspondent Mumbai Published 18.02.23, 01:18 AM
Gautam Adani

Gautam Adani File Photo

The stock of Adani Enterprises, the flagship group company, trundled downhill throughout trading on Friday, with billionaire investor George Soros targeting the practices of the group.

Adani Transmission and Adani Total Gas also ended in the red as they continued to witness selling pressure following the damaging allegations made by Hindenburg Research and more lately MSCI’s announcement that it would reduce the weightage on four group stocks.

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The index provider has now postponed its action in two stocks — Adani Total Gas and ACC to May. While Adani Enterprises settled 4.15 per cent or Rs 74.55 lower at Rs 1,721.75, Adani Transmission took a knock of 4.87 per cent or Rs 47.10 to end at Rs 919.85 and Adani Total Gas fell 5 per cent to Rs 973.75 on the BSE.

Shares of the cement firm ACC finished marginally lower at Rs 1,839.85, down 0.08 per cent over its last close.

Adani Transmission on Friday said it has no undisclosed information which may have a bearing on the rise in its share volumes. The company was responding to a BSE query seeking clarification with reference to movement in the volume of its shares.

The company said the increase in trading volume or price of the shares is purely market driven. The management has no information that may have a bearing on the spike in share volumes and which is yet not disclosed to the stock exchange.

“In the event there is any development that requires disclosure under Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, we will make the same in accordance with the regulatory requirements,” it said.

Adani Ports was marginally higher at Rs 578.80, Adani Power rose almost 5 per cent to end at Rs 155.25, Adani Green Energy by 2.02 per cent to Rs 628.90, Adani Wilmar by 5 per cent to Rs 437.95. Ambuja Cements rose 1.52 per cent to Rs 353.30, while NDTV was locked in the five per cent upper circuit as it closed at Rs 217.40.

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