How Adani Group's founder once named the richest man in Asia and once second only to Elon Musk, lost nearly $70 billion in days
of Indian media group NDTV. In a filing, the media company said the move was "carried out without any consent" from its founders.with Israel Prime Minister Benjamin Netanyahu on Tuesday., the Indian conglomerate has completed its $1.15 billion takeover of Israel's Port of Haifa.Hindenburg's allegations have raised questions about Adani Group's expansion, mostly driven by debt, and the lax regulations that allowed acquisitions to proceed.
"In the near term, sentiment and flows may be adversely impacted, but this should not have a lasting impact over the medium-term," said Sonal Varma, Nomura's chief economist for India and Asia outside of Japan told CNBC"The key drivers of India's medium-term growth prospects remain intact, corporate and banking balance sheets are much stronger, reforms are focused on enabling investments and raising productivity, and as a large market, India will benefit from the ongoing...
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