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Adani shares have been on a wild ride since January 2023, when the U.S. short-selling firm Hindenburg Research accused the Adani Group of engaging in brazen stock manipulation and accounting fraud.
Of 10 listed companies that have lost about $33 billion in market value since the indictment, Adani Green has been the hardest hit, giving up about $9.7 billion. The stock was down 7.5% on Tuesday.
Adani stocks deepened losses on Tuesday, with Adani Green the hardest hit, closing 7.3% lower. ... Prices on some of the more liquid Adani Ports debt maturing between 2027 and 2041 were up between ...
Adani Group (Hindi: [əd̪aːniː], Gujarati: [əd̪aɳiː]) is an Indian multinational conglomerate, headquartered in Ahmedabad.Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include sea and airport management, electricity generation and transmission, mining, natural gas, food, weapons, and infrastructure. [12]
Adani Cement is wholly-owned subsidiary of Adani Enterprises and has not begun its business operations. [32] [33] It was reported in June 2021 that the Adani Group planned to set up a cement plant in Maharashtra which will have an initial capacity of 5-Million tonnes per annum with an approximate investment of ₹900-1,000 crore. [34]
Indictment against Gautam Adani et al. is a 2024 federal indictment in the United States District Court for the Eastern District of New York. [1] Indian billionaire Gautam Adani and seven top business executives of Adani Group and its affiliates have been charged for their alleged involvement in a scheme to pay hundreds of millions of dollars in bribes to Indian government officials and to ...
The Adani Group is a key player in Modi’s ambition to transform India into a $5 trillion economy, said Alim Remtulla of Medley Advisors. Both men embody the “Gujarat growth model,” he said ...
New York prosecutors said billionaire Gautam Adani and seven of his execs paid massive bribes to the Indian government and hid them from US investors.