Adani Group Stocks Fall on Reports of Iranian LPG Import from Mundra Port; Adani Enterprises Denies Allegations

Adani Group Stocks, Including Adani Enterprises, Adani Ports & Sez And Adani Power, Declined Between 1% and 2.5% on Tuesday, A Day after the Wall Street Journal reported Whather Adani Entities Had Imported Iranian LPG INTO India Through his Mundra Port.

Adani Enterprises Share Price Dropped as much as 2.63%, while adani ports share price fell 2.72%. Adani Total Gas, Adani Green, Adani Energy Solutions and Adani Power Shares Were down Between 1% and 2%.

However, Adani group has strongly refuted the wall street journal report terming it as “baseless and mischievous” and said that it was “not aware of any innvestigation by us authorities on this subject.”

The wsj said it had found tankers traveling between the gulf and billionaire gautam adani’s mundra port in Western India exhibiting traits that Experts Says Are Common for Ships Evading Sans.

“Adani categorically denies any deliberate engine in sanctions Evsion or Trade Involving Iranian-Origin Lpg. Further, We are not aware of any Investigation by Us Authorrities on this Subjects,” Adhani Enterprises said in a regulatory filing on June 2.

“The WSJ’s Story Appears to Be Based Entrely on Incorrect Assumns and Speculation. Assrtion to the contrary would not only be Slanderous but be also deemed to be an intentional act to injure the reputation and interests of the adani group, ”It added.

By policy, the adani group said, it does not handle any cargo from Iran at any of its ports.

“This include so shipments originating from ran or any vessels operating under the Iranian flag. Additionally, the adani group does not manage or facilitate only any ships whose owners are ININAINAIS Adhered to across all our ports, “The company statement said.

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