Following this FSCI step, Adani Enterprises shares were reduced by four percent. Eight companies in the Adani group ended with losses, while two others closed with profits amid a mixed trend in the market.
Shares of most Adani group companies also closed lower on Friday. MSCI, which provides financial indices, has said it is downgrading the ‘free float’ status of certain group company securities. Following this FSCI step, Adani Enterprises shares were reduced by four percent. Eight companies in the Adani group ended with losses, while two others closed with profits amid a mixed trend in the market. The market capitalization of the Adani group companies fell 3.3 percent on February 10 following the MSCI decision.
Deepak Jasani, head of retail research at HDFC Securities, said the group’s companies’ market capitalization is now down 51 percent compared to January 24. Adani Enterprises shares closed at Rs 1,847.35, down 4.15 percent from the BSE. It fell 10 percent to Rs 1,734.60 during the day. The company’s market capitalization decreased by Rs 9,114.31 crore to Rs 2.10 lakh crore.
Adani Power shares closed at Rs 164.30. Similarly, Adani Transmission was at Rs 1,186.15, Adani Green Energy at Rs 723.90 and Adani Total Gas at Rs 1,258.25. NDTV shares fell 3.65 percent to Rs 208.65, ACC fell 1.85 percent to Rs 1,881 and Adani Wilmar fell 0.95 percent to Rs 436.10. However, Ambuja Cements scrip closed at Rs 361.05, up 0.85 per cent. While Adani Ports and Special Economic Zone shares closed at Rs 583.85, up 0.31 percent. The 30-stock BSE Sensex closed at 60,682.70, down 123.52 points, or 0.20 percent.
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