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Adani Group stocks tumble up to 25% amid reports of NSDL freezing three FPI accounts

'Blatantly erroneous and misleading': Adani Group rejects report on FPI account freeze

Adani Enterprises tumbled 24.99 percent, while Adani Ports and Special Economic Zone plummeted by 18.75 percent on the BSE

A file photo of Gautam Adani. Image courtesy: Adani Group

New Delhi: Shares of Adani Group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 percent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have a holding in some of these firms.

Adani Enterprises tumbled 24.99 percent to Rs 1,201.10, Adani Ports and Special Economic Zone plummeted 18.75 percent to Rs 681.50 on the BSE.

Among others, Adani Green Energy dipped 5 percent to Rs 1,165.35, Adani Total Gas fell 5 percent to Rs 1,544.55, Adani Transmission declined 5 percent to Rs 1,517.25 and Adani Power slumped 4.99 percent to Rs 140.90.

All these stocks hit their respective lower circuit limits.

According to media reports, the National Securities Depository Ltd has frozen the accounts of three foreign funds which together own shares in four Adani Group companies.

These accounts were frozen on or before 31 May, the report added.

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