Shares of Adani Enterprises fell 10 per cent in Thursday's after the group denied reports that suggested it was securing a fresh $3 billion loan from an unnamed sovereign fund. That said, a few other Adani group stocks jumped up to 5 per cent after a slew of block deals took place on the counters. Investors were also keenly awaiting the SC order over setting up of a panel of domain experts to look into the Adani-Hindenburg row.
Adani Enterprises, which climbed 31 per cent in the previous two sessions, tanked 10 per cent to Rs 1,408.10. Adani Green Energy, which climbed 5 per cent each in last two days, rose another 5 per cent to Rs 535.25 .Adani Transmission gained 5 per cent to Rs 708.35. Adani Ports was down 0.7 per cent at Rs 598.
Data showed Adani Transmission saw 2,84,00,000 shares changing hands in a block deal worth Rs 1,898 crore today. Adani Green Energy saw block deals worth Rs 28,055 crore; Adani Ports also saw 8,86,00,000 shares changing hands on NSE worth Rs 5,282 crore.
Adani Total Gas, which snapped a 26-day long losing streak on Wednesday, dropped 1.65 per cent to Rs 701.45.
Adani Power, which jumped 5 per cent each on Wednesday and Tuesday, jumped another 5 per cent to Rs 161.40. Similar was the case with Adani Wilmar, which advanced 3.83 per cent to Rs 394, after rising 5 per cent each in the last two sessions.
Meanwhile, investors were also awaiting the SC verdict on a batch of petitions that sought a probe on Hindenburg Research report, following a steep fall in Adani group shares. The SC would also weigh in on the issue of forming a committee relating to regulatory mechanisms to protect investors.
So far, four PILs have been filed in the top court on the Adani-Hindenburg issue. Among them, two were from lawyers M L Sharma and Vishal Tiwari; one from Congress leader Jaya Thakur; and the fourth one from social activist Mukesh Kumar.
Tiwari, in his PIL, sought a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire into the Hindenburg Research report, which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The PIL filed by advocate M L Sharma sought prosecution of short-seller Nathan Anderson of the US-based Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of the Adani Group's stock value in the market.
The third PIL by Congress leader Thakur sought an investigation under the supervision of a sitting apex court judge against the Adani Group of companies in light of the allegations. The fourth PIL by Mukesh Kumar seeks a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group following allegations of fraud and share price manipulation.
To recall, while reserving its order on February 17, the SC had refused to accept the Centre's suggestion on a proposed panel of experts in a sealed cover. SC had said it wanted full transparency for protection of investors. It also ruled out the possibility of any sitting judge overseeing the functioning of the proposed panel.
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