Adani got another blow : There has been a movement in the shares of Adani Group for a long time. Now once again the shares of Adani Group have seen a decline. In fact, major exchanges NSE and BSE have said that Adani Green Energy will be placed under the second phase of the Long-Term Additional Monitoring Measures Framework from March 28. Exchanges said Adani Green Energy will continue to remain in the ASM framework but will move to higher levels relative to March 28.
The move comes close to moving two group firms, Adani Total Gas and Adani Transmission, from Phase II of the long-term ASM framework to Phase I on Friday through two exchanges. On March 17, both the exchanges placed Adani Green Energy and NDTV under the first phase of long-term ASM framework.
Stock in decline
At the same time, since then, there has been a further decline in the shares of Adani Group. Meanwhile, all the 10 listed firms of Adani Group showed a decline in the stock market on March 27 and till 12.30 pm on March 28, all the shares of Adani Group were trading in the red mark. Meanwhile, lower circuit was also imposed in some stocks.
Hindenburg Research Report
Let us tell you that since the publication of a report by US-based short-seller Hindenburg Research in January this year, the shares of Adani Group have seen a decline. The report made several allegations against the Adani Group, including fraudulent transactions and manipulation of the share price. However, the Adani Group dismissed these allegations as false.