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Monday 19 July 2021

All stocks of the Adani Group fell today after the Finance Ministry said that several companies in the group are being investigated.

Minister of State for Finance Pankaj Chaudhary told Parliament that market regulator SEBI (Securities and Exchange Board of India) and the government's Directorate of Revenue Intelligence (DRI) were investigating several Adani Group stocks.

“SEBI is investigating some Adani Group companies with regard to compliance with SEBI Regulations. Further, the Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group of Companies under laws administered by it,” Chaudhary said. He made it clear that ED (Enforcement Directorate) is not investigating these companies.

Chaudhary also said that the accounts of three Mauritius-registered funds, Albula Investment Fund Ltd., Cresta Fund Ltd., and APMS Investment Fund Ltd were frozen by SEBI in June. This news was broken by The Economic Times in June but the Adani Group issued a clarification denying this as did the NSDL which said the accounts were not frozen because of Adani companies.

All six Adani stock declined today. 

Adani Enterprises 
Ltd (NS:ADEL) fell 1.26% to Rs 1,377.95.
Adani Total Gas Ltd (NS:ADAG) and Adani Transmission Ltd (NS:ADAI) fell 5% each to Rs 851.75 and Rs 865.75 respectively. 
Adani Power Ltd (NS:ADAN) fell 3.27% to Rs 102.2.
Adani Ports and Special Economic Zone Ltd (NS:APSE) fell 2% to Rs 673.85 and 
Adani Green Energy Ltd (NS:ADNA) feel 3.63% to Rs 972.