Adani Stocks Tumble Amid Rumours Of Trade With Iran

New Delhi: Adani Group stocks ended lower on Tuesday, with Adani Ports, NDTV and Adani Energy falling over 2 per cent each. Adani Group on Monday said it does not handle any cargo coming from Iran or any Iranian-owned ship at any of its ports, as it denied any deliberate engagement in sanctions evasion. In a stock exchange filing, the group said reports of links between any of its entities and Iranian LPG are “baseless and mischievous”. The filing was in response to a Wall Street Journal (WSJ) report that said US prosecutors were investigating if Adani group companies imported Iranian LPG into India through their Mundra port in Gujarat.

Shares of Adani Ports dropped 2.42 per cent, NDTV fell by 2.25 per cent, Adani Energy Solutions declined 2.18 per cent, Adani Power skidded 2.02 per cent and Adani Enterprises went lower by 1.89 per cent on the BSE. The stocks of Adani Total Gas edged lower by 1.62 per cent, Adani Green slipped 1.58 per cent, Sanghi Industries Ltd (1.16 per cent), Ambuja Cements (0.88 per cent), ACC (0.22 per cent) and AWL Agri Business (0.06 per cent).