Adani Group stocks tumble up to 25% amid reports of NSDL freezing three FPI accounts

Adani Enterprises tumbled 24.99 percent, while Adani Ports and Special Economic Zone plummeted by 18.75 percent on the BSE

|Jun 14, 2021, 13:24:19 IST

New Delhi: Shares of Adani Group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 percent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have a holding in some of these firms.Adani Enterprises tumbled 24.99 percent to Rs 1,201.10, Adani Ports and Special Economic Zone plummeted 18.75 percent to Rs 681.50 on the BSE.Among others, Adani Green Energy dipped 5 percent to Rs 1,165.35, Adani Total Gas fell 5 percent to Rs 1,544.55, Adani Transmission declined 5 percent to Rs 1,517.25 and Adani Power slumped 4.99 percent to Rs 140.90.All these stocks hit their respective lower circuit limits.According to media reports, the National Securities Depository Ltd has frozen the accounts of three foreign funds which together own shares in four Adani Group companies.These accounts were frozen on or before 31 May, the report added.

South Korea economy grows faster than expected in Q2 as chip exports power recovery

South Korea’s economy grew 0.6% in the second quarter, beating expectations as strong semiconductor exports offset weakness in construction investment and domestic demand

2 min read

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

RBI says industrial and services activity stayed resilient through June, while strong trade, stable external sector and improving foreign investment continue to support economic growth.

1 min read

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Prolonged US-Iran conflict could fuel inflation, push up borrowing costs and deepen debt distress across developing economies, says Indermit Gill

2 min read

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

Rising US-Iran tensions and tight OPEC+ supply have pushed crude to a five-week high, but experts believe prices are unlikely to sustain a rally beyond $100 without a major supply disruption.

1 min read

UK inflation cools further to 2.6% in June as transport and food prices ease

Softer price growth in transport and food categories helps push headline inflation lower, while core inflation remains sticky.

1 min read

Up Next

Adani Group stocks tumble up to 25% amid reports of NSDL freezing three FPI accounts

Tags

South Korea economy grows faster than expected in Q2 as chip exports power recovery

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease