Adani stocks in red

The entire Adani group stocks are in the red today morning with Adani Transmission, Adani Green Energy, Adani Total Gas and Adani Power hitting the 5% LC while the others, Adani Enterprises and Adani Ports remain in the red.

The Adani group stocks have been tumbling down since yesterday ever since the Minister of State for Finance Pankaj Chaudhary in a written reply to a question told Lok Sabha, said that SEBI and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules.

He said that the accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. The minister did not give out names of the companies which are currently being probed.

SEBI is investigating some Adani Group companies with regard to compliance with its regulations.