(PTI) Shares of Adani Group firms continued to remain weak for the second day running on Tuesday amid a host of negative events surrounding the companies.
In the morning session, the scrip of Adani Enterprises plunged 4.89 per cent to ₹1,633.55 on the BSE.
Some of the group firms also touched their lower circuit levels. The stock of Adani Power nosedived to ₹148.30, Adani Transmission to ₹1,070.55, Adani Green Energy to ₹653.40 and Adani Total Gas to ₹1,135.60 on the bourse.
Similarly, shares of Adani Wilmar declined to ₹393.60 apiece and NDTV to ₹188.35 on the BSE.
The scrips of these companies declined 5 per cent each. In addition, the scrip of Ambuja Cements slipped 4.04 per cent to ₹328.55, ACC dipped 2.01 per cent to ₹1,786.75 and Adani Ports and Special Economic Zone fell 1.17 per cent to ₹546.70 on the BSE.
In the morning session, the 30-share BSE Sensex was trading 295.3 points or 0.49 per cent higher at 60,727.14. There were negative news flows for the group which weighed on investor sentiment including a sharp cut to the revenue growth target by the conglomerate along with a downward revision to the outlook of four Adani Group companies by Moody's.
Over the weekend, news also emerged that three group firms (Adani Ports, Adani Transmission and Adani Green) pledged additional shares to SBICAP Trustee which further soured market mood.
Adani Group stocks have lost around ₹10.2 lakh crore or about 53 per cent of their combined market cap since January 24, when US-based activist short-seller Hindenburg Research through its report made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
