SHARES OF Adani Group companies plunged up to 25 per cent intra-day Monday following news reports that accounts of three foreign investor funds holding sizeable stake in the group’s companies had been frozen by National Securities Depository Ltd (NSDL).
The shares recovered partially after the group companies denied the news reports and informed stock exchanges that the demat accounts in which these foreign funds hold their shares were not frozen.
An email sent by NSDL to the Adani Group following a query on the status of these funds, and seen by The Indian Express, noted that the status of the demat accounts of the three funds holding shares in Adani Group companies is “active” in the NSDL system.
