NSDL statement prevents a $500-million sell-off in Adani group stocks

The clarification by the National Securities Depository (NSDL) – which is tasked with monitoring foreign portfolio investor (FPI) investment in domestic stocks – that the accounts of top investors in Adani group stocks remain ‘active’ has helped prevent a $500-million selloff of shares. Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting of four Adani group companies from their global indices. Brian Freitas, an analyst at independent research provider Smartkarma, said if t.....

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