Adani Group stocks fall for second day on Sebi probe over compliance

0
125



Firms controlled by fell for a second day Tuesday, after the minister of state for finance told Parliament that some of them are being probed by the regulator over compliance with securities rules.


Besides Sebi, Directorate of Revenue Intelligence is also “investigating certain entities” belonging to the for compliance to another set of laws, Minister of State for Finance Pankaj Chaudhary said in response to a question in Parliament on Monday. Chaudhary didn’t elaborate on the investigations or name the group companies.





Shares of all six listed companies slipped in early trading Tuesday. Adani Total Gas, Adani Transmission, Adani Green Energy and Adani Power declined by 5 per cent. Flagship Adani Enterprises fell as much as 3.2 per cent, while Adani Ports & SEZ dropped 2.6 per cent.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



First Published: Tue, July 20 2021. 22:30 IST





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here