The three day sell off in Adani shares has led to billions of dollars being wiped off the Indian conglomerates’ market cap.
Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week.
Share... Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week. Share price movements in Adani companies were mixed on Monday, with flagship firm Adani Enterprises 512599 up 4% but Adani Total Gas’s 542066 shares down 20%.
The group called the report was “a malicious combination of selective misinformation and concealed facts” and the short seller had “male fide intention” timing the publication with Adani Enterprises $2.5 billion share sale.
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