News Formal

Adani group's market loss swells to $65 billion in short-seller attack aftermath

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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.Flagship Adani Enterprises, which is facing a crucial test

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."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

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
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

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.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »