MUMBAI: Most
Adani group shares
recovered on Friday, rising as much as 2.8%, a day after a global network of investigative journalists alleged that the group had used foreign nationals and funds in tax havens to invest in its own shares and violated Sebi’s minimum
shareholding norms
.
During the day, on the BSE,
Adani
Power rose 2.8%, while Adani Green was up 2.3% and Adani Energy Solutions (earlier Adani Transmission) rose 1.6%. Adani Enterprises, the group flagship, closed 1.3% up. Among the laggards from the 10 stocks belonging to the group,
Adani Wilmar
lost 2%, while Adani Total Gas was down 0.3%.
On Thursday morning, Organized Crime and Corruption Reporting Project (OCCRP) had alleged that Adani group had used layered fund structures to evade regulatory scrutiny with Vinod Adani – brother of group chairman Gautam Adani – and his two foreign associates leading entire operations. The group junked the report, calling it ‘recycled allegations’.
