The news that caused a huge fall in the shares of Adani Group, the company rejected it, investors should take advantage of the opportunity or what to do?

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A statement was issued on behalf of Adani Group saying that the news of freezing of accounts of three FPIs by NSDL is baseless. As on March 31, 2020, these funds held approximately 2.1 per cent to 8.91 per cent stake in the five companies of the Adani Group.

The big question in the mind of investors is whether they should take advantage of this opportunity or wait.

Adani Group shares: Billionaire businessman Gautam Adani’s conglomerate on Monday said it has written information that the accounts of three foreign funds, including one of its top shareholders, have not been frozen and that such reports are “clearly false and misleading”. Huh. Shares of these companies saw a fall on Monday after reports of alleged seizure by the National Securities Depository Limited (NSDL) of some FPI accounts holding stake in Adani group companies.

The big question in the mind of investors is whether they should take advantage of this opportunity or wait, because after the lower circuit, the stocks showed great recovery and narrowed the gap. Most of the experts have advised retail investors to stay away from this stock for the time being. For information, let us tell you that T2T (Trade to Trade) has been started in four shares of Adani Group. This means that at present there will be no trading in these shares. In such a situation, investors should wait a little longer. Six companies of the Adani Group are listed in the stock market and in the last one year these shares have given returns of 200-100%.

Adani Group said that this news caused huge loss to the investors

Group’s flagship company Adani Enterprises as well as Adani Ports and Special Economic Zone, Adani Green Energy, Adani Total Gas, Adani Transmission and Adani Power told the stock exchange that investment funds holding stake in group companies Albula Investment Fund, Cresta Fund And the news of NSDL seizing the accounts of APMS Investment Fund, is “clearly misleading and has been deliberately spread to mislead the investor community”. Economic damage and irreparable damage to the reputation of the group.

Demat accounts not seized

In view of the gravity of the issue and its adverse impact on minority investors, “we have requested the Registrar and Transfer Agent(s) regarding the status of the demat account(s) of the above funds and sent an e-mail dated June 14, 2021,” he said. It is hereby confirmed in writing that the demat accounts in which the above funds are holding the shares of the company have not been forfeited. The accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund have been forfeited without assigning any reason.

His investment in Adani Group was $7.8 billion.

The three funds are among the top 12 investors in the group and as on March 31, 2020, these funds held around 2.1 per cent to 8.91 per cent stake in five Adani group companies, according to annual investor presentations. His stake in five Adani Group companies was valued at USD 7.78 billion before the stock crash on Monday.

There was a report of freezing shares worth 43500 crores

Let us inform that according to the report of Economic Times, National Securities Depository Limited ie NSDL has frozen the accounts of three FPIs. These three funds have shares worth 43500 crores of Adani Group. After this news, the shares of Adani Group fell up to 25 percent during trading today. Six companies of the Adani Group are listed on the stock exchange. After the release of the statement from the company in the second half, investor confidence returned and there was a great recovery in the stock.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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