Four Adani Group shares locked in 5% upper circuit limit

Mumbai:  Shares of Adani group companies were in focus in Monday’s session as four out of the six listed stocks were locked in the upper circuit of 5 per cent, bouncing back up to 11 per cent from their respective intra-day lows on the BSE.

Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE. Adani Ports and Special Economic Zone (APSEZ) and Adani Enterprises rallied 7 per cent and 6 per cent, respectively, in intra-day trade. In comparison, the S&P BSE Sensex was up 0.04 per cent at 52,363 points at 01:36 pm.

Last week, all Adani group stocks had come under pressure after a media report suggested that the National Securities Depository Ltd (NSDL) has frozen accounts of three foreign funds that own stake in four of Adani group companies. Adani Power, Adani Total Gas and Adani Transmission had tanked 23 per cent and APSEZ 17 per cent. They were followed by Adani Green Energy and Adani Enterprises which shed 13 per cent and 7 per cent, respectively. In comparison, the S&P BSE Sensex declined 0.24 per cent during the week.

Adani group companies as well as NSDL clarified that the Demat accounts of three foreign funds-Albula Investment Fund, Cresta Fund and APMS Investment Fund holding shares in group companies ‘are not frozen’.

Among the individual stocks, shares of APSEZ were up 7 per cent at Rs 745 on the BSE in intra-day on Monday, rising 15 per cent in the past two trading days, after the promoters bought over 3.5 million shares of the company via the open market.

On June 18, 2021, Worldwide Emerging Market Holding Ltd, the promoter group of the company, purchased 1.64 million shares, representing a 0.08 per cent stake, worth Rs 111 crore of the company via the open market, according to disclosure made by APSEZ today. The promoter bought these shares at an average price of Rs 676.57 per share, data shows. Post-acquisition, Worldwide Emerging Market Holding Ltd’s holding in APSEZ increased to 3.89 per cent from 3.81 per cent earlier.

Earlier, on June 17, 2021, Infinite Trade and Investment Ltd, the promoter group of the company had purchased 1.93 million shares, representing a 0.09 per cent stake, worth Rs 126.81 crore of the company via the open market, according to disclosure made by APSEZ on June 19, 2021. The promoter bought these shares at an average price of Rs 656.88 per share, data shows. Infinite Trade and Investment Ltd had nil holding in the company prior to the acquisition of these shares. The name of the sellers not ascertained immediately.

Infinite Trade and Investment Ltd also purchased 9.1 million shares or 0.55 per cent stake, worth Rs 1,073 crore in Adani Green Energy between June 10 and June 18, the exchange data shows. The names of the sellers were not ascertained immediately.