MUMBAI: The stocks of six Adani Group companies, run by billionaire businessman Gautam Adani, went into a tailspin on Monday after it came to light that accounts of three key foreign investors were frozen by depository NSDL, resulting in the conglomerate losing around Rs 70,000 crore market value at one point during the session.
The stocks, however, recovered later in the day after the group claimed that the accounts remained active.
Citing a mail from NSDL, the Adani group said the accounts of the three FPIs that were shown as frozen on May 31 on the depository’s website, remained active. “As may be verified from the said system, the status of demat accounts …are held in ‘Active’ status in (the) NSDL system,” a document from Adani group quoted from the mail it received from NSDL.
