Adani Group stocks plummet in the 2nd day amid bribery scandal

  • 📰 trtworld
  • ⏱ Reading Time:
  • 33 sec. here
  • 25 min. at publisher
  • 📊 Quality Score:
  • News: 96%
  • Publisher: 63%

Turkiye Nouvelles

Turkey,Middle East,Africa

Stocks of India’s Adani Group, including Adani Green Energy, dropped significantly following a US arrest warrant for its founder over bribery charges, leading to a combined loss of $33 billion in market value.

The cancellation of key contracts and bond sales has raised concerns over Adani Group's future financial stability. / Photo: Reuters

US prosecutors have charged Adani and seven other people with agreeing to pay bribes to Indian government officials to obtain contracts that could yield $2 billion of profit over 20 years as well as to develop India's largest solar power plant project. "We believe domestic, as well as some international banks and bond market investors, look at Adani entities as a group, and could set group limits on their exposure," it said.

It also nixed a separate 30-year, $736-million public-private partnership deal that an Adani Group firm signed with the energy ministry last month to construct power transmission lines.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 101. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Asia stocks dip as Nvidia brings little cheer; India slides amid Adani scandalAsia stocks dip as Nvidia brings little cheer; India slides amid Adani scandal
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Adani stocks tumble, hit lower circuit on US bribery, fraud chargesAdani stocks tumble, hit lower circuit on US bribery, fraud charges
La source: Investingcom - 🏆 450. / 53 Lire la suite »

Asia stocks dip as Nvidia brings little cheer; India in focus amid Adani scandalAsia stocks dip as Nvidia brings little cheer; India in focus amid Adani scandal
La source: Investingcom - 🏆 450. / 53 Lire la suite »