Adani stocks fall up to 7%; 3 hit lower circuit

NEW DELHI: Adani Group shares fell on Thursday, extended losses to a fourth straight session. The stocks declined up to 7 per cent in morning deals, with shares of three out of the six listed companies hitting their lower circuit limits.
tanked 7 per cent to Rs 1,350.85 in morning deals, before recovering to Rs 1,429.45. declined 6 per cent to Rs 664.60, but recouped some of those losses to trade at Rs 706.85.

Other Adani Group stocks including

, Adani Power and Adani Total Gas hit their lower circuit limits of 5 per cent each to Rs 1,300.90, Rs 120.90 and Rs 1,324.30, respectively.

Adani Green Energy was down 3 per cent at Rs 1,114, underperforming the S&P BSE Sensex index, which was down 0.19 per cent at 52,400.86.

Billionaire Gautam Adani’s empire was jolted this week after the Economic Times reported that three of the six Mauritius-based funds that have invested most of their money in the stocks of the group had their accounts frozen by NSDL. Adani Group refuted the report, calling it “blatantly erroneous”.