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Home Business & Corporates

Shares of Gautam Adani Group crashed due to the news of SEBI-DRI investigation, lower circuit imposed on 4 companies

Lagatar News by Lagatar News
July 20, 2021
in Business & Corporates
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Lagatar Desk: Gautam Adani’s troubles are not taking the name of lessening. In fact, Minister of State for Finance Pankaj Chaudhary said that SEBI and Directorate of Revenue Intelligence (DRI) are investigating some companies of Adani Group. Adani Group is accused of violating the rules. However, it could not be disclosed which companies are being investigated. After this news, the shares of Adani companies are seeing a decline again. Since then, there is an atmosphere of fear among investors. This is the reason why the shares of the Adani group companies fell on Tuesday as well.

 

Lower circuit installed in 4 out of 6 companies

As soon as the stock market opened on Tuesday, 3 out of 6 companies of Adani got lower circuit. These companies are Adani Transmission, Adani Total Gas Limited and Adani Green. Let us tell you that after a few minutes, Adani Power also got a lower circuit. The other two companies also continued to decline.

 

NSDL had frozen the FPI account

Let us tell you that a few days ago there was news that NSDL had frozen the accounts of three foreign funds of Adani Albula Investment Fund, Cresta Fund and APMS Investment Fund. He has shares worth more than Rs 43,500 crore in 4 companies of Adani Group.

Gautam Adani told the news wrong

According to the NSDL website, these accounts were frozen on or before May 31. After this news, the shares of Adani’s companies saw a decline for several days continuously. However, Gautam Adani had denied the news of any account being frozen.

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