Adani Gas crashes 14% on report of gas regulator's notice on non-disclosure

Other Adani Group stocks also declined in intra-day trade today. Adani Enterprises (down 5 per cent to Rs 219), Adani Green Energy (down 5 per cent to Rs 183), Adani power (down 1 per cent)

Shares of Adani Gas slipped 14 per cent to Rs 148 on the BSE in Friday's session on reports that Petroleum and Natural Gas Regulatory Board of India (PNGRB) has sent a notice to the company for failing to disclose crucial information regarding a scheme of arrangement with Adani Enterprises.

According to the report by TV channel CNBC Awaaz, Adani Gas has bid for gas projects using networth calculations of Adani Enterprises and that the company’s shareholding changes and restructuring violated city gas distribution regulations, the report said.

The company later told the TV channel it had responded