Adani losses top $100 billion in the wake of Hindenburg Research report
Publishing timestamp: 2023-02-02 22:08:12
Summary
The Adani Group has lost over $100 billion since the publication of a critical report from a short seller. The report accused the conglomerate of stock manipulation and accounting fraud. Adani denied the accusations, but the market turmoil caused the company to call off its intended $2.5 billion sale share. Shares for Adani Enterprises have dropped 26.7%, with Adani Ports down 6.6%, Adani Green down 10%, and Adani Transmission down 10%. India's central bank has asked local banks for details of their exposure to Adani conglomerate.
Sentiment: NEGATIVE
Tickers: ADANIENT-IN, ADANITRANS-IN, ADANIGREEN-IN, ADANIPORTS-IN,
Keywords: adani green energy ltd, markets, adani port and special economic zone ltd, business news,