Adani Stocks Fall up to 14% After NSDL Freezes 3 FPI Accounts

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Adani Stocks Fall up to 14% After NSDL Freezes 3 FPI Accounts
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- 

The National Securities Depository Ltd (NSDL) has frozen three foreign portfolio investor (FPI) accounts: Albula Investment Fund, Cresta Fund and APMS Investment Fund. Collectively, these three funds own over Rs 43,500 crore worth of shares in Adani Enterprises (NS: ADEL ), Adani (NS: APSE ) Green Energy, Adani Transmission and Adani Total Gas.

Almost the whole net worth of these funds comes from Adani stocks. An Economic Times report said that the fund accounts were frozen because of “insufficient disclosure of information regarding beneficial ownership as per the Prevention of Money Laundering Act.”

Adani stocks have tumbled since the morning after the news broke. Adani Port and Special Economic Zone Ltd (NS: APSE ) is down over 14% at Rs 721.5. Adani Enterprises Ltd (NS: ADEL ) is down 13% as of this report to Rs 1,296.95. Four Adani stocks have hit their lower circuits of 5%:

  1. Adani Total Gas Ltd (NS: ADAG ) at Rs 1,544.9.
  2. Adani Green Energy Ltd (NS: ADNA ) at Rs 1,156.9.
  3. Adani Power Ltd (NS: ADAN ) (NS: ADAN ) at Rs 140.9.
  4. Adani Transmission Ltd (NS: ADAI ) at Rs 1,522.5.

Adani stocks have been on a run for the last year. In 2021, until June 11, Adani Group Founder Gautam Adani saw his wealth go up by $43.2 billion to $77 billion making him the 14th richest man on the planet.

Adani stock forums often saw memes that said certain Adani stocks beat even Bitcoin in terms of growth. Adani Total Gas’ stock price saw an increase of 335% in 2021 while Adani Transmission was up 264% and Adani Enterprises was up 235% until June 11.

 

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  • BOLLYWOOD MASHALA @BOLLYWOOD MASHALA
    bsdk bahut loss hua
    Like 2
  • Deep Neel @Deep Neel
    sabki chaal hai panic main stock bikega our ye log entry marlenge operatore log our news reporter log bhi entry karenge mujhe aisa lagta hai
    Like 4
  • sushil garg @sushil garg
    And some more down very soon approx. 10 percent
    Like 0
  • sushil garg @sushil garg
    I know already that stock of Adani will go down because stock was overbought.
    Like 0
    • rudraraju pavankumar @rudraraju pavankumar
      it was not only overbought but also it isn't fundamentally strong
      Like 1
    • paturi naveen @paturi naveen
      Transparency in money laundering and investment by these funds, .these questions by NSDL and freezing their accounts is procedure. If these 3 funds give honest explanations of following Indian  laws,they can operate  and invest even more with greater transparency with NSDL. And Nobody can stop them
      Like 1
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  • Pranav Mishra @Pranav Mishra
    Fake news kehne waala - Go check Sucheta Dalal's tweet !
    Like 0
  • Mr WhatEver @Mr WhatEver
    This Fake news almost ate half of my capital today 😥😥 Lost 32K.
    Like 0
    • paturi naveen @paturi naveen
      @Mr WhatEver ,Adani Stocks are pledged to banks as security for loans,their value has fallen. Banks have given loans, they are shivering even more many will have 1000 crore NPA's
      Like 0
    • Amar Kachari @Amar Kachari
      @Mr WhatEver Thats why do some fundamental analysis.
      Like 0
    • NIWS Institute @NIWS Institute
      make you the expert of the Stock market course in Jaipur (NIWS). NIWS (National Institute oe best share market institute in India, a student in generally go to find the best share market institute in India (NIWS) and they get it ihe NIWS the best stock market course in Jaipur (NIWS)."
      Like 0
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      100
  • Bhupinder Garg @Bhupinder Garg
    fake news
    Like 1
  • Bhupinder Garg @Bhupinder Garg
    fake news
    Like 1
  • F.M. Lakhani @F.M. Lakhani
    It just matter of time to reverse the action .Save this .
    Like 0
  • Tulshiram Dhakate @Tulshiram Dhakate
    thanks,news riding
    Like 0

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