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Seven Adani Group stocks end lower amid weak broader market trend

NDTV hit its lower circuit limit during the day

ADANI-INDIA/STOCKS The Hindenburg report led to massive selling in Adani Group shares | Reuters

Out of the ten listed firms of the Adani Group, seven companies ended the day in the negative territory on Friday amid a weak trend in the broader market.

The stock of NDTV tumbled 4.87 per cent, Adani Power tanked 4.27 per cent, Adani Wilmar dropped 3.24 per cent, Adani Enterprises fell 2.90 per cent, Adani Ports declined 2.56 per cent, ACC dipped 2.08 per cent and Ambuja Cements ended marginally lower by 0.01 per cent on the BSE.

NDTV hit its lower circuit limit during the day.

However, shares of Adani Green Energy jumped 4.84 per cent, Adani Transmission climbed 3.78 per cent and Adani Total Gas gained 2.49 per cent.

In a volatile trade, the 30-share BSE Sensex fell 398.18 points or 0.69 per cent to finish at 57,527.10.

The group stocks have taken a beating on the exchanges since the report by US-based short-seller Hindenburg Research came in January this year.

Stocks of eight Adani group companies out of the 10 listed entities closed in the green territory on Wednesday. On Thursday, five group stocks ended higher, while five of them finished lower.

Meanwhile, the NSE and BSE had on Wednesday said they will include Adani Power under the short-term additional surveillance measure (ASM) framework from Thursday.

Adani Power is shortlisted in short-term ASM framework Stage-I effective March 23, according to separate circulars available on the exchanges.

The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.

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