TotalEnergies says has limited exposure to Adani Group companies

in the past week since U.S. short seller Hindenburg's Jan. 24 report which questioned the company's debt levels and use of tax havens. The group has called the report baseless and affirmed its financials are strong.

Total has a 37.4% stake in Adani Total Gas and a 19.75% stake in Adani Green Energy , according to its statement on Friday. Adani Total Gas shares, the biggest casualty of the report, have plunged nearly 60% with a loss of almost $30 billion. Adani Green has shed over 50%. "These investments being accounted for under the equity method, TotalEnergies has not performed any re-evaluation in its accounts of its stakes in the listed entities ATGL and AGEL," Total said.

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Indian shares fall as Union budget drags insurance cos; Adani Group stocks tumbleIndian shares reversed earlier gains to close lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.
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