Adani group shares drop after reports of fraud and manipulation
Adani group shares drop after reports of fraud and manipulation
Investors in Adani Group companies lost a whopping ₹85,000 crore in wealth.
Investors in Adani Group companies lost a whopping ₹85,000 crore in wealth.
This happened after US activist investor Hindenburg Research released a report that alleged fraud by the Adani group.
This happened after US activist investor Hindenburg Research released a report that alleged fraud by the Adani group.
Adani Group denied the allegations as “baseless and discredited".
Adani Group denied the allegations as “baseless and discredited".
BSE 30-share index fell by 1.27%, the nine Adani group companies’ market capitalization collectively lost by a wider 4.5%.
BSE 30-share index fell by 1.27%, the nine Adani group companies’ market capitalization collectively lost by a wider 4.5%.
Shares of Adani Enterprises recouped a part of its intra-day losses to end at ₹3,389.85, shedding 1.54% from its Tuesday close.
Shares of Adani Enterprises recouped a part of its intra-day losses to end at ₹3,389.85, shedding 1.54% from its Tuesday close.
Adani Transmission, Ambuja Cements, ACC and Adani Ports, shed the most value.
Adani Transmission, Ambuja Cements, ACC and Adani Ports, shed the most value.
Adani Transmission reported the steepest decline, plunging 8.87%.
Adani Transmission reported the steepest decline, plunging 8.87%.
Two cement twins, Ambuja Cements Ltd and ACC Ltd, lost 7.71% and 7.26%, respectively, on BSE.
Two cement twins, Ambuja Cements Ltd and ACC Ltd, lost 7.71% and 7.26%, respectively, on BSE.
Adani Enterprises regained strength after reports suggested that the anchor book for the FPO was oversubscribed.
Adani Enterprises regained strength after reports suggested that the anchor book for the FPO was oversubscribed.