Adani Power, Adani Ent fall for 5th consecutive day

Adani group stocks were on sellers' radar. Shares of Adani Power and Adani Enterprises dropped for the fifth consecutive session on Thursday while Adani Ports lost for the second straight day.

Adani Power crashed 15 percent and Adani Enterprises 12.5 percent in five days while Adani Ports went down 4.4 percent in two days.

Adani Power will consider issuing shares to promoters on preferential basis on Saturday. Previously, the promoter Vinod Adani bought shares worth Rs 21.75 crore in Adani Power.

At 13:40 hours IST, shares of Adani Power fell 3.75 percent to Rs 42.40 while Adani Enterprises dropped 2.51 percent to Rs 211.70 amid large volumes on Bombay Stock Exchange.

Trading volumes in Adani Enterprises increased 22 times to 48,24,355 equity shares as against five-day average of 2,18,397 shares due to three block deals.

More than 46 lakh equity shares changed hands at Rs 220.50 on Bombay Stock Exchange via three block deals, which were worth Rs 102 crore.
 
Meanwhile, Adani Ports and Special Economic Zone slipped 1.32 percent to Rs 130.70.
 
Nearly 14 lakh shares changed hands at Rs 133.25 via block deal, which was worth Rs 18.64 crore in early trade.