Adani Group Stocks Fall After SEBI and DRI Probe News

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Adani Group Stocks Fall After SEBI and DRI Probe News
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- All stocks of the Adani Group fell today after the Finance Ministry said that several companies in the group are being investigated.

Minister of State for Finance Pankaj Chaudhary told Parliament that market regulator SEBI (Securities and Exchange Board of India) and the government's Directorate of Revenue Intelligence (DRI) were investigating several Adani Group stocks.

“SEBI is investigating some Adani Group companies with regard to compliance with SEBI Regulations. Further, the Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group of Companies under laws administered by it,” Chaudhary said. He made it clear that ED (Enforcement Directorate) is not investigating these companies.

Chaudhary also said that the accounts of three Mauritius-registered funds, Albula Investment Fund Ltd., Cresta Fund Ltd., and APMS Investment Fund Ltd were frozen by SEBI in June. This news was broken by The Economic Times in June but the Adani Group issued a clarification denying this as did the NSDL which said the accounts were not frozen because of Adani companies.

All six Adani stock declined today. Adani Enterprises Ltd (NS: ADEL ) fell 1.26% to Rs 1,377.95. Adani Total Gas Ltd (NS: ADAG ) and Adani Transmission Ltd (NS: ADAI ) fell 5% each to Rs 851.75 and Rs 865.75 respectively. Adani Power Ltd (NS: ADAN ) fell 3.27% to Rs 102.2. Adani Ports and Special Economic Zone Ltd (NS: APSE ) fell 2% to Rs 673.85 and Adani Green Energy Ltd (NS: ADNA ) feel 3.63% to Rs 972.

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  • SUHAS PARIKH @SUHAS PARIKH
    Adani shares is a long term growth story. next 3 month Target is Rs.900.  It is good that SEBI is doing inquiry. So that truth will be revealed.
    Like 1
  • S ilent M ode @S ilent M ode
    SERIOUS CHECK UP REQUIRED
    Like 0
  • Sudipto Roy @Sudipto Roy
    XX hai to mumkin hai.
    Like 0
  • Rakesh Prasad @Rakesh Prasad
    Mallaya, Nirav, choksi , Shetty and now Adani , this not stopping. He may also looking to fly away. Govt need to cease his passport.
    Like 1
  • Alok Shukla @Alok Shukla
    Yes, If tata's shares fall then why adani not, Smart Investors keep profit home then again buy at cheaper prise. If you long term and have conviction in that stock keep holding and add on dip. look SRF, UPL from Rs. 30 to 10 Paisa then gone up to 900 beyond. This is market no place for cowards.☺
    Like 11
  • Mansoor Ali @Mansoor Ali
    Pay and ‘spend’ 1 billion to make 30b to 60b valuation. End of day, fair valuation ought to come
    Like 1
  • Shiv Charan @Shiv Charan
    that's how the cartel works.. first increase the price to impress retail investors, than, break some news, and, crash the share price. from the day of 1st news breake till today.. why the investigation hasn't done...Sab Maya hai...garib loos book kar raha hai..Adani paise chap raha hai
    Like 8
  • Ajay Uppal @Ajay Uppal
    Today they say Govt is investigating, tomorrow they will say nothing is there..
    Like 14
    • Thoutam Rajesh @Thoutam Rajesh
      ur true he is a big man from idea so it is possible
      Like 0
    • Thoutam Rajesh @Thoutam Rajesh
      India sorry
      Like 0
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  • abhishek tripathi @abhishek tripathi
    it means...Adani's Companies shares can fall more....
    Like 4

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