What made the stir? $3.9 billion of domestic, global funds invested on six AdaniGroup stocks

As many as 556 global funds are invested in Adani Green, Adani Total Gas, Adani Transmission, Adani Power, Adani Enterprises, and Adani Ports.

Adani Group stocks have had a volatile run this week. The stocks took a hit on June 14 after media reports said the National Securities Depository Ltd (NSDL) froze accounts of three foreign funds that were among the top stakeholders in the port-to-energy conglomerate, which denied such a development.

The next day the stocks rebounded after NSDL said the accounts remained active but mild selling pressure continued on June 16 amid a broader selloff on D-Street.

NSDL has indeed frozen accounts of the three foreign funds—Albula Investment Fund, Cresta Fund and APMS Investment Fund—but that pertains to some specific accounts and happened way back in June 2016.

The accounts were frozen on the orders of the Securities and Exchange Board of India (SEBI) in an unrelated case and have nothing to do with Adani Group companies, a senior NSDL official commented.

The reports of "frozen accounts" caused a stir and were being watched with a great deal of interest as the group as an extensive set of foreign investors.

As many as 556 global funds are invested in six Adani Group stocks, whose market value is roughly $3.52 billion.

ETF, index funds, mutual funds as well as Separate Account are among the funds invested in Adani Green, Adani Total Gas, Adani Transmission, Adani Power, Adani Enterprises, and Adani Ports.

As many as 286 domestic funds have cumulatively invested in Adani Group companies with a total market value of $0.450 billion. The total exposure of both global and domestic funds stands close to $3.9 billion.