Adani Group stocks sink up to 20%; CLSA sees limited risk to banks

Shares of the group's flagship company Adani Enterprises tumbled 6.2 per cent, while those of Adani Green and Adani Total Gas declined 15.5 per cent and 19.6 per cent, respectively

Adani Group stocks continued to be in a free fall on Friday as the spat between Gautam Adani-led group companies and US activist investor Hindenburg Research took legal turn. 

Shares of the group's flagship company Adani Enterprises tumbled 6.2 per cent to Rs 3,180 per share in early deals, while those of Adani Ports and SEZ shed 5 per cent; Adani Power 5.3 per cent; Adani Wilmar 4.9 per cent; Ambuja Cement 4.6 per cent; Adani Green 15.5 per cent; and Adani Total Gas 19.6 per cent. By comparison, the benchmark S&P BSE Sensex plunged 578 points or nearly 1