NEW DELHI : Companies of India's Adani Group saw their share prices extend declines on Friday amid continued selling pressure as well as concern about any systemic impact from disarray triggered by a U.S. short-seller report critical of the group's finances.
Declines intensified after billionaire leader Gautam Adani shelved a $2.5 billion share sale which would otherwise have taken place at the height of the rout. Meanwhile, lawmakers have called for a wider probe into the matter, and the central bank has asked lenders for details of their exposure to the group, sources previously told Reuters.
Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Green Energy Ltd also slumped 10 per cent each. Adani Total Gas Ltd fell 5 per cent.
Source: News Formal (newsformal.com)
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