Majority of Adani Group firms continue to fall; some hit lower circuit limits in intra-day trade

Most of the Adani Group firms continued to remain weak on Friday amid an overall bearish trend in the equity market.

The stock of Adani Transmission fell 5%, Adani Green Energy slipped 5%, Adani Total Gas (5%) and Adani Enterprises (4.98%) on the BSE.

Shares of Adani Power dipped by 4.98%, NDTV dropped by 4.05% and Adani Wilmar went lower by 3.35%.

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However, Ambuja Cements advanced 2.45%, Adani Ports climbed 1.24%and ACC (0.03%).

Shares of eight Adani Group firms out of the ten listed entities had ended in the negative territory on Thursday. Adani Group firms had fallen sharply on Wednesday, with all the listed firms ending in the red.

On Friday, the BSE Sensex fell 141.87 points or 0.24% to settle at 59,463.93. In a bearish trend, the BSE benchmark has tumbled 1,855.58 points or 3% since February 16.

Adani Group stocks have taken a beating on the exchanges after US-based short seller Hindenburg Research last month made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

All the ten listed firms have together lost Rs 12,03,901.43 crore in market valuation since the US short-seller came out with its report on January 24.