Reported about 11 hours ago
The Adani Group faces severe repercussions from unprecedented bribery allegations by U.S. prosecutors, resulting in a nearly $27 billion decline in market value and intensifying global funds' exit from Indian equities, with over $14 billion offloaded since late September. As concerns rise over corporate governance and slowing earnings momentum, the Indian market braces for a sharp downturn, despite significant local investment backing. Analysts suggest that the impact of these charges will largely affect market sentiment amid broader economic challenges.
Source: YAHOO