Reported about 11 hours ago
The Adani Group faced a drastic reduction in market value of approximately $27 billion following U.S. indictments against its chairman for alleged bribery and fraud. This significant drop triggered steep declines in the stock prices of multiple Adani companies, with Adani Enterprises witnessing its worst one-day loss since February 2023. Despite the accusations being labeled as 'baseless' by the Group, investor confidence has been shaken, impacting their access to global capital markets.
Source: YAHOO