The Hindenburg report recently chalked out a new set of allegations against the Ad. Group. In this new report, the short-selling group has claimed that the funds associated with the Ahmedabad-based company have been frozen by the authorities in Switerzland. The Ad. Group denied these allegations, calling them “preposterous, irrational and absurd”.
Despite the rebuttal, Ad. Group comp.es appear to be struggling at the equity markets, as shares of the comp.es part of the conglomerate are trading in red on Friday, September 13.
Ad. Enterprises Ltd
Firstly, when we look at the group’s flagship, Ad. Enterprises, the entity’s shares dropped 0.50 per cent or Rs 14.90, tracking the overall value of the shares to Rs 2,976.10 per piece at the time of writing.
Ad. Ports and Special Economic Zone Ltd.
Another major Ad. company that has recently seen its profile rise. the Ad. Ports also saw its shares trade in red. Ad. Ports’ stock price dropped by 0.93 per cent or Rs 13.70, taking the overall value of the shares to Rs 1,458.90.
Ad. Power Ltd
Another key entity, Ad. Power, appears to be faring worse than other Ad. stocks, as the company shares dropped by a mammoth 1.51 per cent or Rs 9.80. This took the overall value to Rs 641.30 per share.
Ad. Green Energy Ltd
Another energy company, Ad. Energy, also saw its shares slip in red. The company stock price dipped to Rs 1,801.50. This came to pass after a decline of 0.57 per cent or Rs 10.40.
Ad. Total Gas Ltd
Ad. Total Gas saw a minor decline of 0.12 per cent or Rs 0.95; this took the overall value of the shares to Rs 804.85 per share.
Ad. Wilmar Ltd
The Ad. Wilmar shares, however, were the silver lining to the day’s proceedings, as the company shares, at the time of writing, were trading in green. The company shares gained 0.68 per cent or Rs 2.45. This took the overall value to Rs 364.50 per share.
