Adani Group clarifies on FPI account development; stocks see some recovery

Adani Group clarified that the demat accounts of three foreign funds-Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in group Companies are not frozen.

Shares of Adani Group companies rebounded from their respective intra-day lows on Monday after the company clarified that the demat accounts of three foreign funds-Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in group Companies 'are not frozen'.

The stocks of all six listed Adani Group companies -- Adani Enterprises, Adani Ports and Special Economic Zone, Adani Power, Adani Transmission, Adani Green Energy and Adani Total Gas -- were under pressure on Monday as they fell up to 25 per cent in intra-day trade on report that National Securities Depository Ltd (NSDL) has frozen accounts of