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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SWR announces special trains for passengers stranded by large-scale IndiGo cancellations
Bengaluru (PTI): The South Western Railway on Saturday announced a series of special trains, in coordination with Central, South Eastern and Southern Railways, to clear stranded passengers following large-scale IndiGo flight cancellations across the country.
The special services will operate between December 6 and 10 on high-demand routes, including Bengaluru–Chennai, Bengaluru–Pune, Yesvantpur–Hazrat Nizamuddin, Shalimar–Yelahanka and Ernakulam–Yelahanka, officials said.
According to an official statement, SWR will run Train No. 06255/06256 between Chennai Egmore and KSR Bengaluru, 06257/06258 between Bengaluru and MGR Chennai Central, 06259/06260 between Yesvantpur and Hazrat Nizamuddin, and 06263/06264 between Bengaluru and Pune.
ALSO READ: Indigo flights chaos: SCR to run special trains to clear passenger rush
Central Railway will operate Train No. 01413/01414 between Pune and Bengaluru, while South Eastern Railway will run Train No. 08073/08074 between Shalimar and Yelahanka. Southern Railway will operate Train No. 06147/06148 between Ernakulam and Yelahanka, the statement said.
Railways has advised passengers to check updated timings on its official channels and arrive early at stations.
For at least five days in a row, IndiGo flight operations have been significantly disrupted, with a large number of cancellations and delays causing hardships to thousands of passengers. In many cases, baggage has been misplaced.
