Major investment in Adani Group fails to stop US$70bn slide in value following fraud allegations

Shares in Adani Enterprises traded higher on Tuesday but losses across the Indian group continued to grow in the wake of the Hindenburg report.Shares in Adani Enterprises traded higher on Tuesday but losses across the Indian group continued to grow in the wake of the Hindenburg report.

Shares in Adani Total Gas were down 10% on Tuesday, hitting a daily limit imposed by the Indian exchange designed to prevent rapid share price movements. Other related entities, like Adani Green Energy, were also down in early trading in Mumbai. IHC is the dominant company on Abu Dhabi’s stock market, and it has said it wants to boost global acquisitions, with a focus on food and clean energy.

Hindenburg disclosed that it took a short position in Adani companies before it published its report. It is using financial instruments to profit from its falling share prices.

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