Adani shares plunge further as it weighs legal action against short seller firm
Publishing timestamp: 2023-01-27 02:00:49
Summary
Shares of Adani Group companies dropped for a second consecutive trading session after short seller firm Hindenburg announced its short position in the conglomerate's firms. Adani rejected the claims, and Hindenburg doubled down on its stance, saying any lawsuits filed against it would be "meritless." Billionaire investor Bill Ackman voiced his support for the short seller firm. Adani Enterprises kicked off its bidding for retail investors for its 200 billion rupee ($2.45 billion) secondary share offering on Friday.
Sentiment: NEGATIVE
Tickers: ADANIGREEN-IN, ADANIPOWER-IN, ADANIPORTS-IN, ADANIENT-IN, ADANITRANS-IN,
Keywords: markets, stock markets, adani green energy ltd, business news,
Source: https://www.cnbc.com/2023/01/27/adani-shares-drop-further-as-group-warns-of-legal-action.html