Majority of Adani group stocks trade lower for second day

Shares of eight of the 10 listed Adani group firms were trading lower during the morning trade on Friday after the billionaire 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.