Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles
Bourse says action "non-discretionary, pre-announced"
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. The opposition, however, has been calling it a big fraud. The capital markets watchdog, the Securities and Exchange Board of India (Sebi), has also been facing criticism from some opposition leaders that it has not intervened in the matter. Sebi has said it is committed to ensuring the stock market's integrity and all necessary surveillance measures are in place to address any excess
HIL, Himadri Speciality Chemical and Goa Carbon rallied up to 15% on the BSE in otherwise weak market.
Stocks lose a fifth of their value, even as Sensex hits new highs