Several firms – most of which had strong fundamentals but faced liquidity crises – changed hands at large discounts. Political power has played a role.
Most Adani Group continued to slide after the stock market opened following the week-end break with more adverse news in the form of the UP power utility cancelling a Rs 5,400 crore order on a group company for smart meters while one of the better performing mutual fund, Quant Mutual Fund, exited it