NEW DELHI :Most Adani group shares extended their sharp falls to Monday as a detailed rebuttal of a U.S. short-seller's criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days.
Adani Transmission and Adani Total Gas plunged 20 per cent each on Monday, while Adani Green Energy was down 16 per cent. Adani Ports and Special Economic Zone slipped 1.1 per cent. Indian regulations say the share offering must receive minimum subscription of 90 per cent, and if it does not the issuer must refund the entire amount. Maybank Securities and Abu Dhabi Investment Authority are among investors who bid for the anchor portion of the issue.
On Monday, responding to Adani's rebuttal, Hindenburg said the"response largely confirmed our findings and ignored our key questions."
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Adani flagship rises but some other group stocks dive in short-seller attack aftermathNEW DELHI :Shares in India's Adani Enterprises climbed 6 per cent on Monday, paring some initial gains, but several other Adani group companies plunged for the third straight day despite a detailed rebuttal by the group of a U.S. short-seller's criticisms.Adani, led by Asia's richest man Gautam Adani, has loc
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Adani Enterprises shares rise but other group stocks plunge after short-seller attackNEW DELHI : Shares in India's Adani Enterprises rose as much as 9.5 per cent on Monday but those of several other group companies plunged for the third straight day, extending their losses after a U.S. short-seller's report that criticised the group. Adani has locked horns with U.S.-based Hindenburg Re
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India's Gautam Adani: Asia's richest man weathering stock market panicShares in the business empire of Asia's richest man Gautam Adani nosedived after a US investment firm claimed it had committed 'brazen' corporate fraud.
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