Nine Adani firms end lower; group’s combined mcap falls to Rs 6.81 trn

Stocks of nine out of ten listed firms of the Adani Group closed in the red on Monday, with the flagship Adani Enterprises tumbling over 9 per cent as investors continued to desert the counters.

The conglomerate, whose business interests span from sea-ports to airports, edible oil and commodities, energy, and cement to data centres, has taken a drubbing on the bourses following a report by US short-seller Hindenburg Research labelling charges of stock manipulation and accounting fraud.

The Adani group has vehemently dismissed the charges as lies, saying it complies with all laws and disclosure requirements.