Shares of Adani Enterprises Ltd, Adani Ports & SEZ, Adani Power Ltd and Adani Green Energy Ltd cut gains while others such as Adani Total Gas, Adani Transmission and Adani Wilmar slipped into the red, as market regulator Sebi filed a 41-page affidavit in Supreme Court in the Adani-Hindenburg case and has sought ‘appropriate orders’ from the apex court.
Read More: Gati posts June total volume at 102 kt, up 14% on-year
Sebi has placed on record recommendations by expert committee and petitioners. Supreme Court is scheduled to hear the case tomorrow. To recall, the apex court had granted Sebi time till August 14 to complete its probe of the Adani-Hindenburg issue and submit its report.
Shares of Adani Enterprises came off from a high of Rs 2,461.90 and were trading at Rs 2,415.60, up 1.54 per cent. Shares of Adani Ports were trading at Rs 722.70, up 0.55 per cent. This stock hit a high of Rs 729.85 earlier today. Adani Power was up 0.3 per cent at Rs 244.60, off its day’s high of Rs 249.35.
Read More: India Inc set for a stellar show in Q1, but earnings may be disappointing sequentially
Shares of Adani Transmission slipped into the red and were trading at Rs 752.75, down 0.95 per cent. It hit a high of Rs 764.15 earlier today. Adani Wilmar declined 0.56 per cent to Rs 401.60, after hitting a high of Rs 407.45. Adani Total Gas slipped 0.12 per cent to Rs 642.10. This stock hit a high of Rs 652 today. Stocks such as ACC, Ambuja Cements and NDTV were trading flattish.
The expert committee said violations of securities laws demand prompt action so as to limit the negative impact on the securities market, said a report on Monday.
Read More: Rs 2000 notes can be changed sans ID: SC
The panel has recommended a robust settlement policy, said Bar and Bench. “Put in place a coherent policy on settlement of proceedings, whereby financial injury commensurate with the alleged violation may be inflicted on the party and resources need not be expended where a settlement is possible,” the panel has reportedly said.
