Adani Group stocks fall for second day on Sebi probe over compliance

Adani Group stocks fall for second day on Sebi probe over compliance

By Administrator_India

Capital Sands

Firms controlled by Gautam Adani fell for a second day Tuesday, after the minister of state for finance told Parliament that some of them are being probed by the markets regulator over compliance with securities rules.

Besides Sebi, Directorate of Revenue Intelligence is also “investigating certain entities” belonging to the Adani Group for compliance to another set of laws, Minister of State for Finance Pankaj Chaudhary said in response to a question in Parliament on Monday. Chaudhary didn’t elaborate on the investigations or name the group companies.

Shares of all six listed Adani group companies slipped in early trading Tuesday. Adani Total Gas, Adani Transmission, Adani Green Energy and Adani Power declined by 5 per cent. Flagship Adani Enterprises fell as much as 3.2 per cent, while Adani Ports & SEZ dropped 2.6 per cent.

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