Adani Group stocks dip for the second day in a row as Sebi, DRI probes; 4 firms hit 5% lower circuit

Sebi and the Directorate of Revenue Intelligence (DRI) are investigating the Group companies over some violations of the regulations.

Jul 20, 2021 01:07 IST India Infoline News Service

Adani Group stocks were in a nosedive on Tuesday after reports stated that market watchdog Sebi and the Directorate of Revenue Intelligence (DRI) are investigating the Group companies over some violations of the regulations. This would be the second consecutive day slip.

The information was given by the junior minister for finance Pankaj Chaudhary in the Lok Sabha on Monday.

At around 1.25 PM, Adani Enterprises, the flagship company of the Group, was trading at Rs1357.80 per piece down by 1.66% on Sensex. Adani Ports slipped by 0.9% at Rs667.55 per piece.

Meanwhile, four Adani firms have hit a 5% lower circuit on Dalal Street. These companies are - Adani Transmission (Rs920.55 per piece), Adani Green Energy (Rs927.35 per piece), Adani Total Gas (Rs813.60  per piece) and Adani Power (Rs97.20 per piece).

Chaudhary said that the market regulator probe focuses on the Group companies compliance with its regulations. However, he did not disclose the names of the companies that are under investigation.

He further said that DRI was investigating certain entities belonging to the Adani Group under laws administered by it.

However, the Adani Group spokesperson has said that they "have always been transparent with all our regulators and have full faith in them," reported Bloomberg. 

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