News Formal

Major investment in Adani Group fails to stop US$70bn slide in value following fraud allegations

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 98%

United States News News

United States United States Latest News,United States United States Headlines

Abu Dhabi’s International Holding Company to invest US$400m in Indian conglomerate as it tries to complete share sale

Shares in Adani Enterprises traded higher on Tuesday but losses across the Indian group continued to grow in the wake of the Hindenburg report.Shares in Adani Enterprises traded higher on Tuesday but losses across the Indian group continued to grow in the wake of the Hindenburg report.

Shares in Adani Total Gas were down 10% on Tuesday, hitting a daily limit imposed by the Indian exchange designed to prevent rapid share price movements. Other related entities, like Adani Green Energy, were also down in early trading in Mumbai. IHC is the dominant company on Abu Dhabi’s stock market, and it has said it wants to boost global acquisitions, with a focus on food and clean energy.

Hindenburg disclosed that it took a short position in Adani companies before it published its report. It is using financial instruments to profit from its falling share prices.

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:

 /  🏆 1. in US
 

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

United States United States Latest News, United States United States Headlines

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

Adani claims US investment firm’s fraud allegations are an ‘attack on India’Conglomerate responds to Hindenburg Research report that claimed it was the ‘biggest con in corporate history’
Source: GuardianAus - 🏆 1. / 98 Read more »