Mumbai: The Adani Group companies – Adani Power (Rs 127.25), Adani Transmission (Rs 1,369.35) and Adani Total Gas (Rs 1,394) – were locked in lower circuit for the third straight day, down 5 per cent each, on the BSE on Wednesday despite the National Securities Depository Ltd (NSDL) clarifying that the accounts of three foreign funds – holding nearly Rs 43,000 crore worth of Adani group shares – are ‘active’ and not frozen.
Besides these three stocks, Adani Green Energy fell 4 per cent to Rs 1,165 in intra-day trade and is trading in ‘T’ group on the BSE and ‘BE’ segment on the National Stock Exchange (NSE). Shares falling in the Trade-to-Trade or T-segment are traded in BE series and no intraday is allowed. This means trades can only be settled by accepting or giving the delivery of shares.
Among the shares of the remaining two Group companies, Adani Ports and Special Economic Zone (SEZ) was down 5 per cent to Rs 726.50 on the BSE and Adani Enterprises fell 3 per cent in intra-day trade today. The latter was quoting less than 1 per cent lower at Rs 1,530 at 11:12 am, as compared to 0.40 per cent decline in the S&P BSE Sensex. The stocks of Adani Ports and SEZ and Adani Enterprises are part of the future and options (F&O) segment and price bands or circuit filters are generally not applied on them.
“We wish to inform you that the status of the Demat account of your shareholders may be verified from NSDL DPM (SHR) system available with your Registrar & Transfer Agent (RTA) and the beneficiary position details downloaded to your RTA. The current status of the Demat accounts of the shareholders is available in the DPM (SHR) system. As may be verified from the said system, the status of Demat accounts mentioned in your trail email are held in ‘Active” status in NSDL system. Further, the below Demat accounts are in ‘Suspended for Debit’ status in terms of SEBI order no. WTM/PS/58/IVD/JUN/2016 dated June 16, 2016,” NDSL said.
“We regret to mention that these reports are blatantly erroneous and 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,” Adani Enterprises and other group companies said on clarification on the article published in ET.
Meanwhile, the stock of Adani Enterprises has rebounded 28 per cent from its low of Rs 1,201, touched in intra-day trade on Monday. Regarding the airport business IPO, Adani Enterprises, in a separate regulatory filing clarified that the Company regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholders’ value. The Company’s business model for last 25 years is to demerge matured business vertical, it said.
On the proposed listing of Adani Wilmar Limited, a 50:50 Joint Venture of the Company with Wilmar group, Singapore. Adani Enterprises clarified that the Company regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholders’ value and this may involve discussions with various parties and stakeholders at different points in time. Such discussions may not always culminate in transactions and accordingly we would like to avoid speculative updates, it said.