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Adani Stocks Fall as Firm Starts Tour to Win Back Investors
(Bloomberg) — Most Adani Group stocks fell as the embattled Indian conglomerate kicked off a charm offensive with fixed-income investors in Asia, its latest effort to stem the fallout from a short-seller’s attack. Most Read from Bloomberg All of the group’s 10 stocks dropped, led by a 10{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} plunge in flagship Adani Enterprises Ltd., taking its market value wipeout to about $154 billion since US-based Hindenburg Research made allegations of accounting fraud and stock manipulation in a report in January. Adani Group has repeatedly denied those claims. The continued selling came as the conglomerate began a series of investor meetings at a hotel in Singapore Monday, with help from about…
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Adani crisis ignites Indian contagion fears, credit warnings
Each residences of parliament adjourned amid row Flagship Adani business plunges 35{9f99fe44fce1aa3c813d0a0ce4da2fbea8a5a58e9d85c4a2927dd8140cb676b5} at one point Moody’s warns will obtain it harder to raise cash NEW DELHI, Feb 3 (Reuters) – Economical contagion fears unfold in India on Friday as the Adani Group’s disaster worsened, with rankings agency Moody’s warning the conglomerate may battle to increase capital and S&P reducing the outlook on two of its corporations. Chaotic scenes in both of those properties of India’s parliament led to their adjournment on Friday as some lawmakers demanded an inquiry after a extraordinary meltdown in the inventory market values of Indian billionaire Gautam Adani’s corporations. The disaster was induced by a Hindenburg…
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/cloudfront-us-east-2.images.arcpublishing.com/reuters/DYIEZ5RTSZMMHNRADTT6AKSZLM.jpg "Adani crisis ignites Indian contagion fears, credit warnings")
