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.
Bron: Reuters - 🏆 2. / 97 Lees verder »
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Bron: Reuters - 🏆 2. / 97 Lees verder »
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.
Bron: Reuters - 🏆 2. / 97 Lees verder »