Adani Stocks Cut Loss After Denying Freeze on Investor Accounts
Nupur Acharya and P R Sanjai, 14 June 2021
Shares of companies controlled by billionaire Gautam Adani recouped a part their day’s losses after refuting a local report that said accounts of three Mauritius-based funds that own the group’s stocks were frozen.
The Economic Times reported Monday that National Securities Depository Ltd. froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund. It said the action was probably due to insufficient disclosure of information regarding beneficial ownership, citing people it didn’t identify. The report sparked a selloff in shares of six listed Adani firms before the ports-to-power conglomerate rebutted the claims. Continue reading “Article: Adani Stocks Cut Loss After Denying Freeze on Investor Accounts”
