New Delhi :
Shares of Adani group companies fell by about 5 per cent to 25 per cent on Monday after reports that the National Securities Depository (NSDL) froze the accounts of three foreign funds that are among the top stakeholders in the firms. Adani Enterprises, the conglomerate's flagship company, fell as much as 25 per cent, its steepest fall in nearly a decade and Nifty 50-listed Adani Ports and Special Economic Zone fell as much as 19 per cent before paring some losses. The Adani Group, however, said the accounts had not been frozen and that any reports to the contrary were "blatantly erroneous and misleading".
Here are the highlights of what Adani Group CFO Jugeshinder Singh To NDTV:
These are 2-3 year old companies. These will continue to see a rise even after 5-7 years. We are a young company and are growing fast.The shares are rising. We are a utility platform, but India currently does not have a utility index.What is important for us is that we have a diversified register, and we are doing that.City gas would be a very important element because it is a B-to-C business. It also expands into tier II and tier III category towns, so it is an area of focus for us.It is our obligation to disclose to our investors, and my team and I will ensure that this is done. India's growth story is solid and we will work to continue to grow.
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