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Adani group stock bounce back after NSDL says FPI accounts in Adani companies are not frozen –

NSDL clarified to the conglomerate later in the day that the accounts of three foreign funds that are big stakeholders of Adani group companies are not frozen.

Adani group stock have rebounded at open on June 15, a day after the stocks took a beating on the back of media reports that suggested NSDL has frozen three FPI accounts owning Adani Group shares.

Share price of Adani Transmission, Adani Power and Adani Gas were down 5 percent each while that of Adani Green shed 2 percent. Adani Enterprises share price was trading marginally in the green and that of Adani Ports added half a percent.

National Securities Depository Ltd (NSDL) has frozen the accounts of three Foreign Portfolio Investors (FPI) — Albula Investment Fund, Cresta Fund and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies-Adani Enterprises, Adani Green Energy, Adani Transmission, Adani Total Gas, media reports suggested on June 14.

However, NSDL clarified to the conglomerate later in the day that the accounts were not frozen.

“The status of demat accounts mentioned in your trail email are held in ‘active” status in NSDL system,” Rakesh Mehta, vice-president, NSDL told Adani officials.

Moneycontrol has reviewed the exchange of mails.

Reports of a freeze on the accounts sent shares of several Adani group companies tumbling on Monday.

To be sure, the NSDL website still shows that the accounts of the three so-called foreign portfolio investors (FPIs) are frozen. But this punitive action pertains to older cases, NSDL officials told Moneycontrol, asking not to be named.

Separately, news agency Reuters quoted an unnamed NSDL official as saying the freeze is on accounts of the funds that hold certain other securities and is not new. “NSDL hasn’t taken any action now,” the source told Reuters.

Moneycontrol News