Fraud accusation makes Adani Enterprises plunge by over 6%
DSIJ Intelligence / 16 Aug 2017
With the shocking news that Adani Enteprises may have fraudulently siphoned off hundreds of millions of dollars of borrowed money into overseas’ tax havens, its scrip took a tremendous beating in the early morning trade on Wednesday, on the BSE.
With the shocking news that Adani Enteprises may have fraudulently siphoned off hundreds of millions of dollars of borrowed money into overseas’ tax havens, its scrip took a tremendous beating in the early morning trade on Wednesday, on the BSE. The stock fell by over 6%. The accusation relates to its operations of coal mines in Australia.
The company was trading at Rs 111.95 per share, down by Rs 5 or 4.28% as at 1024 hours on Wednesday, on the BSE. The stock witnessed a spurt in volume by more than 1.20 times. It attracted traded volume of 33,00,031 shares and traded value of Rs 3,673.59 lakhs on the NSE.
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