8 Adani group stocks settle lower

New Delhi: Shares of eight of the ten Adani group firms ended lower on Monday after facing severe drubbing during the morning trade as the US short-seller Hindenburg Research alleged that Sebi chairperson Madhabi Puri Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani to round-trip funds and inflate stock prices. The Adani group firms, however, managed to recover most of their sharp early declines.

At close of trade, the stock of Adani Wilmar slumped 4.14 per cent, Adani Total Gas went lower by 3.88 per cent, Adani Energy Solutions dropped 3.70 per cent, NDTV fell by 3.08 per cent, Adani Ports dipped 2.02 per cent, Adani Enterprises declined 1.09 per cent, ACC (0.97 per cent) and Adani Power (0.65 per cent) on the BSE. However, two of the group firms bounced back, with Ambuja Cements climbing 0.55 per cent and Adani Green Energy rising by 0.22 per cent. During the early trade, shares of Adani Energy Solutions nosedived 17 per cent, Adani Total Gas tanked 13.39 per cent, NDTV plunged 11 per cent and Adani Power dropped 10.94 per cent. Stocks of Adani Green Energy had declined 6.96 per cent, Adani Wilmar slumped 6.49 per cent, Adani Enterprises tumbled 5.43 per cent, Adani Ports dived 4.95 per cent, Ambuja Cements skidded 2.53 per cent and ACC dipped 2.42 per cent.