The ambuja cement shares crumbled on NSE tumbling about more than 17 per cen on the NSE (National Stock Exchange), after US justice department, SEC (Securities and Exchange Commision), FBI (Federal Bureau of Investigation) and US attorney accused Gautam Adani in Rs 2,110 crore bribery case.
The Ambuja share price went on to touch the day low of Rs 453.05 per share on the NSE (National Stock Exchange), after hitting the opening bell at Rs 494.60 per share on the Indian exchanegs.
The Ambuja cement's shares were trading around Rs 479.45 per share on the Indian bourses with a decline of 12.76 per cent amounting to a Rs 70.10 per share on the bourses.
The adani group also acquired the ACC cement from holcim cement, whose shares were tumbling on the Indian bourses after weak opening.
The ACC share went to touch day low of Rs 1,868.20 per share on the NSE (National Stock Exchange), after hitting the opening bell at Rs 1,986.00 per share on the Indian exchanges, the stock nosedived almost 10 per cent at opening bell level.
The shares were trading at Rs 1,953.30 per share on the Indian exchanges, plunging about 10.61 per cent, amounting to a Rs 231.80 per share on the Indian bourses.
The accusion made against Gautam Adani
Gautam Adani, the chairman of the Adani Group, and seven other individuals were charged by the government on Wednesday by the U.S. Securities and Exchange Commission (SEC) with conspiring to commit securities and wire fraud in order to obtain money from international financial institutions and US investors.
According to the indictment, the defendants devised a plan to bribe Indian government officials with over USD 250 million in order to deceive banks and investors and obstruct justice while raising billions of dollars.
