Adani Group stocks tumble, 3 hit lower circuit limits

NEW DELHI: Most Adani Group stocks extended losses on Tuesday, with three counters hitting their lower circuit limits, even as Adani Group denied reports that the National Securities Depository Ltd (NSDL) had frozen accounts held by three offshore funds that own stakes in its group companies.

Shares of

, and Adani Total Gas were each down 5 per cent at Rs, 1,441.50, Rs 133.90 and Rs 1,467.35, respectively.
opened in the green but slipped to 1 per cent to Rs 1,489.30 at 9:55 am. Adani Ports traded down 1 per cent at Rs 761.40, underperforming the S&P BSE Sensex index, which which was up 0.53 per cent at 52,828.90.

“We regret to mention that these reports are blatantly erroneous and are 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,” the Group said in a regulatory filing.

Adani Green was the only group stock trading higher, up 1 per cent at Rs 1,189.90.

On Monday, The Economic Times had reported that NSDL had frozen accounts of three foreign funds – Albula Investment Fund, Cresta Fund and APMS Investment Fund – which together own shares worth Rs. 43,500 crore of some of the group companies.