The Indian energy billionaire and Narendra Modi ally denied charges leveled by Hindenburg Research, which triggered a massive sell-off of Adani company shares.
share sale of one of its companies.
in the country. From there, his company expanded swiftly into infrastructure, logistics and energy, with coal-related businesses fueling his rise.
His empire now stretches to sectors such as defense, renewable energy, transmission and infrastructure.Adani’s dizzying rise closely parallels the political career of Modi. The two men first met in the 1990s in their home state of Gujarat, when Adani was an up-and-coming businessman and Modi a promising, mid-level official in the Bharatiya Janata Party.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adani's $2.5 billion share sale faces crucial day after Indian routSeven companies in the conglomerate, led by Asia's richest man, saw sharp falls in their values after a Hindenburg Research report flagged concerns about high debt levels and the use of tax havens.
Read more »
Fraud claims wipe $48B off India's Adani Group stocksShares of Gautam Adani's business empire sink nearly 20 percent as scathing report by Hindenburg Research ignites rout in conglomerate's listed firms, casting doubts on how investors will respond to company's record $2.45 billion secondary sale.
Read more »
MSCI seeks feedback on Adani Group over Hindenburg reportIndex provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research.
Read more »
Exclusive: India's Adani says $2.5 billion share sale on track even as bankers mull changesBankers may extend the sale or cut the issue price, sources said. Seven Adani companies have lost a combined $48 billion in market value since a research report flagged concerns about debt levels and their use of tax havens.
Read more »
Exclusive: Bankers on Adani $2.5 bln share sale consider delay, price cut after routBankers on the $2.5 billion share sale of India's Adani Enterprises are considering extending the sale or cutting the issue price after shares plunged on a U.S. short seller's report, said three people familiar with the deal.
Read more »
Hindenburg report crushes Adani empire: $52 billion evaporate in a weekU.S. investor Hindenburg Research has released a report and a statement accusing Indian conglomerate Adani Group of being the “biggest con in corporate history.'
Read more »