The sell-off in India's Adani Group's seven listed companies, where more than $110 billion in market value has already evaporated, continued on Monday as a U.S. short-seller's report critical of the group's finances now led to credit warnings.
on Friday that the group may struggle to raise capital and S&P cut its outlook on two group companies, the latest fallout of Hindenburg Research's Jan.
24 report that questioned the conglomerate's debt levels and use of tax havens.sank 9.6% on Monday, taking the group's flagship company's losses to nearly $28 billion since the report.
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