Nine out of ten listed companies of the Adani group closed with losses on Monday, snapping two-day gains amid an across-the-board sell-off in the broader market.
While some Adani stocks hit their lowest circuit prices, flagship Adani Enterprises Ltd declined 3.84 per cent to close at ₹1,805.10 on BSE. The flagship commanded a market capitalization of ₹2.05 lakh crore. The stock was the second biggest loser among Nifty stocks, dropping by 3.44 per cent.
Adani Total Gas plunged 4.99 per cent to end at ₹853.10, Adani Power tumbled 4.83 per cent to close at ₹190.30 and Adani Transmission went lower by 1.49 per cent to settle at ₹1,009.60 per share. The three stocks hit their lower price bands on the exchange before recovering some ground.
Shares of Ambuja Cements nosedived 3.37 per cent to close at ₹365.50, Adani Wilmar fell 3.16 per cent to end at ₹413.85, NDTV dived 3.11 per cent to settle at ₹199.30 and ACC declined 1.84 per cent to end at ₹1,697.05 on the BSE .
Also, shares of Adani Ports and Special Economic Zone (APSEZ) fell 1.96 per cent to end at ₹666.75 a piece on the exchange.
However, Adani Green Energy climbed 3.91 per cent to settle at Rs 848.75 per share. The company’s market value rose to Rs 1.34 lakh crore.
The BSE Sensex benchmark plunged 360.95 points or 0.62 per cent to settle at 57,628.95 points. The broader NSE Nifty fell 111.65 points or 0.65 per cent to close at 16,988.40.
On Friday, seven Adani group companies had settled higher.
Last week, NSE and BSE announced that two Adani group stocks — Adani Green Energy and NDTV — will be moved to the first stage of the long-term additional surveillance measures (ASM) framework from Monday.
The move also comes close on the heels of the two exchanges excluding Adani Enterprises, Adani Power and Adani Wilmar under the short-term ASM.