NSDL says no freeze on accounts of 3 FPIs holding Adani stocks: Report

National Securities Depository Ltd (NSDL) on Monday clarified that the status of demat accounts of three foreign portfolio investors (FPI) accounts — Albula Investment Fund, Cresta Fund and APMS Investment Fund —- are in ‘active’ status in NSDL system, Reuters reported citing unnamed source.

Seperately, CNBC TV18 has also reported the same information that the status of accounts are active.

Reports of a freeze on the accounts sent several Adani stocks plummeting earlier on Monday before recovering marginally from lows after the group companies informed the stock exchanges that news reports on NSDL freezing the FPI accounts are blatantly erroneous.

“It is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group.” the group firms said.

Stocks of Adani Group companies took a pounding in morning trade on June 14, falling as much as 25 per cent on report that NSDL has frozen accounts of three foreign funds that owned stake in four of the group companies.

Among individual stocks, Adani Enterprises, the group’s flagship company, fell 25 per cent at Rs 1,201 apiece, followed by Adani Ports (down 18 per cent at Rs 681). So far in the current calendar year, Adani Enterprise has surged over three-fold, while Adani Ports and Adani Total Gas have zoomed over 100 per cent and four-fold, respectively.

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