Stocks of affiliated companies founded by Asia’s richest man Gautam Adani continued to fall in Mumbai markets on Friday, extending a slide after a U.S. short seller published its two-year investigation into the group’s business practices.
Stocks in flagship firm Adani Enterprises 512599 sank as much as 20% and other linked companies saw similar losses on Friday. The sell-off intensified for the seven Mumbai-listed companies since Hindenburg Research’s report came out on Wednesday. The price of U.S. dollar bonds of Adani firms also have fallen since Wednesday.
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Indian shares sink; Adani Group stocks plunge to lower circuitIndian shares fell more than 1% to an over three-month low on Friday as some Adani Group companies plunged 20% and hit their lower circuits in the wake of a short-seller attack on the conglomerate, which also dragged down financials. its going to hurt lot of people invested in this crook AdaniOnline but hope and pray these m0f0s end up paying for their crimes.
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Adani Group stocks add to losses from short-seller attackShares of Adani Group's listed companies fell on Friday, adding to their losses from Wednesday when U.S. short-seller Hindenburg Research launched a scathing attack on the conglomerate. The fact that there's a short-selling firm called HINDENBURG RESEARCH tells you all you need to know about short-selling. Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra
Source: Reuters - 🏆 2. / 97 Read more »