Sebi investigating market allegations against Adani Group: MoS Finance
Regulator Sebi is investigating market allegations against Adani group, whose 9 listed companies saw a 60 per cent decline in their market capitalisation between January 24 and March 1, Parliament was informed on Monday.
Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that the volatility in the stocks of these companies have not had any significant impact at the systemic level. Nifty 50 declined by around 4.5 per cent during the same period.
The Securities and Exchange Board of India (Sebi), as the statutory regulator of securities markets, is mandated to put in place regulatory frameworks for effecting stable operations and development of the securities markets including protection of investors.
As per its mandate, it conducts investigations into any alleged violations of its regulations by any market entity, he said.
"It is, accordingly, undertaking investigation into the market allegations against the Adani Group of companies. The nine listed companies formi