"It is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group."
The group stocks rebounded from their respective lows on Monday after it dismissed the reports.
"Given the seriousness of the article and its consequential adverse impact on minority investors, we requested Registrar and Transfer Agent, with respect to the status of the Demat Account of the aforesaid funds and have their written confirmation vide its e-mail dated June 14, 2021, clarifying that the Demat Account in which the aforesaid funds hold the shares of the Company are not frozen," the group firms further stated.
According to news
reports, accounts of the three investment funds, which own over Rs 43,500 crore worth of shares in four Adani Group
companies, were frozen on or before May 31, as per the depository’s website.
Stocks of Adani Group companies
took a pounding in morning trade on June 14, falling as much as 25 per cent on report that NSDL has frozen accounts of three foreign funds that owned stake in four of the group companies.
Among individual stocks, Adani Enterprises, the group's flagship company, fell 25 per cent at Rs 1,201 apiece, followed by Adani Ports (down 18 per cent at Rs 681). So far in the current calendar year, Adani Enterprise has surged over three-fold, while Adani Ports and Adani Total Gas have zoomed over 100 per cent and four-fold, respectively.
Analysts say, till there is more clarity on the issue and clarification, if any, from the company, investors should remain cautious and refrain from making any fresh investment in the related stocks.
Overall, the market-cap of Adani group stocks fell nearly by Rs 1.03 trillion today, according to a moneycontrol report.
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