While Adani Transmission’s stocks were worst hit, none of the group's seven listed companies escaped impact, with their stock prices falling between 10% & 27%.
Hindenburg Research report on Gautam Adani's business empire sparked a $51 billion sell-off in shares of his group companies, pushing him 4 places down on the world billionaire index.
According to sources, the market regulator will study a report issued by Hindenburg Research to add to its own ongoing preliminary probe into the group’s foreign portfolio investors
Shares of the listed Adani firms that plummeted include Adani Transmission, Adani Total Gas & Adani Green Energy sinking 20% each while Adani Ports and Special Economic Zone fell 16.3%.
The Hindenburg report, which alleged stock manipulation, led to seven listed group firms of Adani losing $10.73 billion in market capitalisation on Wednesday.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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