Majority of Adani group stocks trade lower for 2nd day; Adani Green tumbles 11 pc
New Delhi (PTI): Shares of eight of the ten listed Adani group firms were trading lower during the morning trade on Friday after billionaire Gautam Adani was charged by US prosecutors for allegedly being part of a scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Adani Green Energy dropped 10.95 per cent and Adani Energy Solutions tumbled 8.57 per cent to hit the 52-week low of Rs 637.85 on the BSE.
The stock of the group's flagship firm, Adani Enterprises, slumped 6.98 per cent to hit its 52-week low of Rs 2,030.
Shares of Adani Power tanked 6.38 per cent, Adani Total Gas went lower by 6.11 per cent, Adani Ports declined 5.31 per cent, Adani Wilmar plunged 5.17 per cent to hit the one-year low of Rs 279.20 and NDTV dipped 3.41 per cent.
In contrast, ACC and Ambuja Cements were trading over 2 per cent higher even after falling in the opening deals.
In the equity market, the BSE benchmark Sensex quoted 781.02 points higher at 77,936.81 and the NSE Nifty climbed 228.90 points to 23,578.80.
Shares of Adani group firms fell sharply on Thursday.
The stock of Adani Enterprises had plunged 22.61 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 18.80 per cent, Adani Ports dived 13.53 per cent, Ambuja Cements cracked 11.98 per cent, and Adani Total Gas tumbled 10.40 per cent on the BSE.
Shares of Adani Wilmar declined 9.98 per cent, Adani Power slumped 9.15 per cent, ACC fell 7.29 per cent, and NDTV dipped 0.06 per cent.
Adani group on Thursday denied charges of paying bribes to secure favourable terms for solar power contracts, saying the allegations by US prosecutors are baseless and the conglomerate is compliant with all laws.
It said all possible legal recourse will be sought.
"The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied," the group spokesperson said in a statement.
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Abhishek Sharma's massive century guides SRH to 8-wicket win against PBKS
Hyderabad, Apr 12 (PTI): Opener Abhishek Sharma smashed a superb century and shared a 171-run partnership with Travis Head as Sunrisers Hyderabad made a mockery of the massive 245-run chase, registering an eight-wicket win against Punjab Kings here on Saturday.
SRH scored 247 for 2 with nine balls to spare.
Abhishek clobbered 141 off 55 deliveries studded with 14 fours and 10 big hits, while Head made 66 off 37 balls as the duo undid the good work done by Punjab Kings' captain Shreyas Iyer, who hit a 36-ball 82 after electing to bat first.
Abhishek also become the third-highest scorer in IPL history behind Chris Gayle (175 not out) and Brendon McCullum (158 not out).
Earlier, PBKS openers Priyansh Arya (36 off 13 balls) and Prabhsimran Singh (42 off 23) added 66 runs quickly before Iyer carried on the good work along with Nehal Wadhera (27).
Harshal Patel (4/42) emerged as the most successful SRH bowler, while Sri Lankan right-arm quick Eshan Malinga (2/45) took two wickets.
Brief Scores:
Punjab Kings: 245 for 6 in 20 overs (Shreyas Iyer 82, Marcus Stoinis 34 not out, Priyansh Arya 36, Prabhsimran Singh 42; Harshal Patel 4/42, Eshan Malinga 2/45).
Sunrisers Hyderabad: 247 for 2 in 18.3 overs (Travis Head 66, Abhishek Sharma 141, Heinrich Klaasen 21 not out).
