The Adani Group lost nearly ₹44,898 crore in market value on Monday as shares of group companies plunged following a media report that the National Securities Depository Ltd (NSDL) has frozen accounts of three foreign funds who are major stakeholders. The ports-to-energy conglomerate has denied the report.
The accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund were frozen on or before May 31, according to the depository’s website, although that only reflects part of the story.
Shares of six listed Adani group firms tumbled 5-25% during the day as The Economic Times report spooked investors.
