Companies of Indian conglomerate Adani Group have now seen $105 billion wiped off their market capitalization, extending a slide after a critical report from a U.S. short-seller that the Indian company insists are “bogus.”
The most recent share-price slide came after it cancelled a $2.5 billion secondary share sale of Adani Enterprises. The share sale garnered some support from well-known Indian family businesses but the group said in a statement to the stock exchange that it would be returning the proceeds from the sale.
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Indian shares fall as insurance companies drag; Adani Group stocks tumbleIndian shares reversed earlier gains to trade 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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Adani Group stocks rout deepens to $72 bln despite share sale completionMost Adani Group stocks dropped on Wednesday, extending losses to $72 billion after a short-seller report criticised the conglomerate and despite the group completing a closely watched share sale a day earlier. share sale subscribed by other corporates. retail investors stayed away from these frauds. HindenburgRes need to ask those who participated in FPO, why they paid 3200Rs for a share offer when the market price was about 2950Rs. What's the catch here?
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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.
La source: Reuters - 🏆 2. / 97 Lire la suite »