Adani Group shares shed US$6 billion despite rejecting reports on investors
CHENNAI: Shares in companies controlled by Indian billionaire Gautam Adani shed more than US$6 billion (RM24.7 billion) today despite rejecting media reports that said accounts of three foreign investor funds that own stocks had been frozen. Adani Group flagship Adani Enterprises closed down 6.3% after plunging as much as 25%, its steepest fall in nearly a decade. The freezing of the three accounts was first flagged in an article in India''s Economic Times today. The Adani Group firms involved rejected reports about the National Securities Depository Ltd (NSDL) freezing the funds accounts as blatantly erroneous in identical statements issued to stock exchanges. The NSDL website showed it had frozen as of May 31 the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, without citing a reason. The Adani firms said they had received an e-mail from the Registrar and Transfer Agent dated June 14 saying that the Demat Account in which the aforesaid funds hold the shares of the company were not frozen.
Adani Group shares shed US$6 billion despite rejecting reports on investors
CHENNAI: Shares in companies controlled by Indian billionaire Gautam Adani shed more than US$6 billion (RM24.7 billion) today despite rejecting media reports that said accounts of three foreign investor funds that own stocks had been frozen. Adani Group flagship Adani Enterprises closed down 6.3% after plunging as much as 25%, its steepest fall in nearly a decade. The freezing of the three accounts was first flagged in an article in India''s Economic Times today. The Adani Group firms involved rejected reports about the National Securities Depository Ltd (NSDL) freezing the funds accounts as blatantly erroneous in identical statements issued to stock exchanges. The NSDL website showed it had frozen as of May 31 the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, without citing a reason. The Adani firms said they had received an e-mail from the Registrar and Transfer Agent dated June 14 saying that the Demat Account in which the aforesaid funds hold the shares of the company were not frozen.