Analysts turn cautious on Adani Group companies, suggest cutting exposure

Concerns had shot up on shares of Adani Group stocks after a report by Bloomberg last week showed signs of concentrated holdings in group share companies by select foreign portfolio investors (FPIs). Matters got worse when National Securities Depositories Limited (NSDL) froze the account of three of these FPIs, holding shares worth Rs 43,500 crore in four of the six group companies, turning the Street cautious on these stocks.  

Shares of all six companies - Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Total Gas and Adani Transmission - hit their respective lower circuits in intra-day trade today,