Adani Share Tumult Deepens With Some Diving by Daily Limit
- Adani stocks have slipped for three straight days this week
- Conglomerate denied a report about three Mauritius-based funds
Gautam Adani
Photographer: Hindustan Times/Getty Images
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The slump in shares of companies controlled by Indian billionaire Gautam Adani deepened on Wednesday with three of them tumbling by the daily limit for the third straight day.
Adani Total Gas Ltd., Adani Power Ltd. and Adani Transmission Ltd. hit the lower circuit after dropping 5% each even as the group denied a local report Monday that said accounts of three Mauritius-based funds that own the group’s stocks were frozen.