Amid a mixed trend in the market, around seven Adani group companies were trading in the red, while the other three were trading in the green. Adani Enterprises shares were down 10 percent at Rs 1,734.60 per share, hitting its lowest level on the BSE.
New Delhi. Shares of most Adani group companies posted losses in early trading on Friday. At the same time, financial index provider MSCI reduced the weighting of four companies in its index after its review, after which shares of Adani Enterprises, the group’s flagship company, were cut by 10 percent. Amid a mixed trend in the market, around seven Adani group companies were trading in the red, while the other three were trading in the green. Adani Enterprises shares were down 10 percent at Rs 1,734.60 per share, hitting its lowest level on the BSE.
The company’s market capitalization dropped to Rs 2.14 lakh crore in early trading. In early trading, Adani Power shares fell 5 percent to their intraday low of Rs 164.30 per share. Similarly, Adani Transmission, Adani Green Energy and Adani Total Gas were also trading down five percent each in early trading. NDTV shares were down 2.56% at Rs 211 and ACC shares were down 0.84% at Rs 1,900.35. However, three companies in the Adani group, Adani Ports and Special Economic Zone, Ambuja Cements and Adani Wilmar, were trading in the green.
Adani Ports and Special Economic Zone scrip rose 1.98 percent to Rs 593.60, Ambuja Cements rose 1.09 percent to Rs 361.90 and Adani Wilmar gained 1.10 percent to Rs 445.15. The 30-share BSE Sensex was trading 139.83 points, or 0.23 percent lower, at 60,666.39 in early trading. Shares in the group have lost around Rs 9.4 lakh crore or around 49 per cent of their total market capitalization after US short selling firm Hindenburg Research issued a negative report on Adani Group on Jan 24.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.