Adani Group shares came under pressure on Friday following heavy selling at the opening of the market hours.
The flagship Adani Enterprises lost 3 per cent with heavy trade volumes of nearly one million shares, while Nifty stock Adani Ports and SEZ lost nearly 4 per cent.
On Thursday, the US-based forensic short-seller, Hindenburg Research disregarded the legal action threat from the Adani Group and said it stood by the report, which was released on Wednesday alleging Adani Group of financial irregularities and stock manipulations.
Also read: Adani exploring legal options against Hindenburg Research for “maliciously mischievous” report
The maximum slide was seen in Adani Group’s city gas distribution arm, Adani Total Gas which lost by nearly 20 per cent.
Adani Transmission (-15. 71%) and Adani Green Energy (-12.31%) were among the other big losers.
Adani Power and Adani Willmar hit the lower circuit of 5 per cent at the opening trade.
Among the other Adani Group companies, NDTV too hit the lower circuit at 4.99 per cent, while cement makers Ambuja Cements and ACC lost 1.86 ler cent and about 3.5 per cent respectively.
Also read: Adani vs Hindenburg: A brief story of short sellers
Meanwhile, the benchmark indices too traded weak with Sensex and Nifty losing by upto one per cent each.