Gautam Adani fails to calm investors as market wipeout hits $100 billion | CNN Business

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Shares in Gautam Adani’s businesses plunged further on Thursday after an attempt by the Indian billionaire to reassure panicking investors failed to halt a stock market meltdown that has wiped $100 billion off the value of his conglomerate.

“For me, the interest of my investors is paramount and everything is secondary,” the 60-year-old businessman said in a recorded video address posted after he abruptly abandoned a $2.5 billion deal to sell new shares in his flagship company, Adani Enterprises, just 24 hours after it was sealed.

Chowdhury said that investors would now be “skeptical” about accounting practices at all Indian firms, while Mukherjea said his clients are already asking more questions. “Naturally … they are requesting us to do a bit of hand holding with regards to how accounting and corporate governance works in India,” Mukherjea told CNN. Adani is seen as a close ally of India’s prime minister. And opposition lawmakers have begun asking for a probe into the Hindenburg report.

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Might just be a prelude to CNN's and E-Loons Twitter future, unless there is a course change and quick. The game may be subtle, but still obvious for those with open minds and eyes that see.

We were warned ages ago about this man, did we listen, NO.

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We're having a difficult time feeding our family due to Biden Inflation. For some reason, Biden finds it ok to give thousands of illegal aliens a check for $1400.00 of our money out of our pocket. ImpeachBiden

This is international organised crime and sabotage against Adani and it's the USA and her cohorts

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Adani's market losses top $100 bln as crisis shockwaves spreadAdani's market losses swelled above $100 billion on Thursday, sparking worries about a potential systemic impact a day after the Indian group's flagship firm abandoned its $2.5 billion stock offering.
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