‘Purely market driven’: Adani Transmission on BSE clarification amid increase in trade volume

Adani Group firm Adani Transmission on Friday said it has no undisclosed information which may have a bearing on the spike in its share volumes.

The company made the remarks in response to a BSE query seeking clarification with reference to movement in volume of its shares.

Adani Transmission said the increase in trading volume/price of the shares is purely market driven. The management has no information that may have a bearing on the spike in share volume and which is yet not disclosed to the stock exchange.

Also Read: National Stock Exchange to include Adani Wilmar, Adani Power to few indices from March 31

"In the event there is any development that requires disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we will make the same in accordance with the regulatory requirements," it said.

Shares of Adani Transmission ended 4.87 per cent lower at Rs 919.85 apiece on BSE.

Also Read: Adani-Hindenburg saga: S&P places Adani Transmission's ESG evaluation 'under review' on governance issues

Stocks of the listed entities of Adani Group have taken a beating on the bourses after the Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate.

However, the conglomerate has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

Also Watch: Market Outlook: Impact On Adani Group Growth To Be Seen Soon: Anand Tandon