Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week.
Share... Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week. Share price movements in Adani companies were mixed on Monday, with flagship firm Adani Enterprises 512599 up 4% but Adani Total Gas’s 542066 shares down 20%.
The group called the report was “a malicious combination of selective misinformation and concealed facts” and the short seller had “male fide intention” timing the publication with Adani Enterprises $2.5 billion share sale.
Source: News Formal (newsformal.com)
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