Adani shares fall on report NSDL froze foreign funds’ accounts

BENGALURU : Shares of Adani group companies fell between 5% and 18% on Monday, after the Economic Times reported the National Securities Depository Ltd (NSDL) had frozen the accounts of three foreign funds, which have a total investment of 435 billion rupees in Adani group companies.

Adani Enterprises and Nifty 50-listed Adani Ports and Special Economic Zone were the top losers, falling over 15% each.

The report said, citing an official, that the NSDL’s move could be because of inadequate beneficial ownership documentation.