Shares of Adani Group companies on Monday fell by up to 9 per cent in intra-day trade following reports that three companies in the group have pledged additional shares to SBICAP Trustee Company, a company in the State Bank of India group.
Shares of Adani Total Gas, Adani Power, Adani Transmission, Adani Green Energy, NDTV and Adani Wilmar fell by 5 per cent each. Adani Enterprises plummeted by 8.95 per cent, Adani Port by 6.69 per cent and Ambuja Cement by 6.27 per cent as of 12.45 IST.
According to filings, as many as 75 lakh more shares of Adani Ports have been pledged, taking the total to 1 per cent of all shares with SBICAP. In the case of Adani Green, pledge of 60 lakh more shares took the total to 1.06 per cent.
