For the past few days, everything has gone smoothly with the head of the Adani group, Gautam Adani. Recently Gautam Adani has lost the crown of Asia’s second richest billionaire. At the same time, investors in the stock market are exiting Adani Group companies by selling shares. Due to this, Adani Group has suffered losses in the Indian stock market.
What’s the matter: In fact, the market regulator SEBI and the Directorate of Revenue Intelligence (DRI) are investigating some of Adani Group’s companies for violating the rules, the central government told the Lok Sabha on Monday. While they did not say which companies are being investigated, there has been an atmosphere of fear among investors following this news. This is the reason why Adani Group’s shares fell on Tuesday after Monday.
Here are 6 companies listed on the Indian stock market. On Tuesday, three of these 6 companies received short-circuits. These three stocks – Adani Power, Adani Transmission, Adani Total Gas. This means that investors of these companies will no longer be able to sell shares during the day’s trading. Lower circuit is charged for no sale of the company after a certain limit. Adani Group’s other three companies, Adani Green Energy, Adani Enterprises and Adani Port, were down 2 to 4 per cent.
SEBI is investigating Adani Group’s companies, find out what is the matter
What company’s share price
Adani Power: Rs 97.20 (Lower Circuit)
Adani Transmission: Rs 920.55 (Lower Circuit)
Adani Total Gas: Rs. 813.60 (Lower Circuit)
Adani Green Energy: Rs
Adani Enterprises: Rs
Adani Port: Rs
What is being investigated: Finance Minister Pankaj Chaudhary told the House that in 2016 three Mauritius-based funds were frozen and most of their money was invested in Adani Group companies. Without giving any details, Adani said some of the group’s companies were being investigated for compliance with SEBI regulations. The minister informed that the DRR is investigating certain elements belonging to the group.