Combined equity market value of 10 Adani Group firms slips below $100 bn

Billionaire Gautam Adani and his companies have hired legal and communication teams, cut expenses and repaid debt as they seek to calm traders concerned about the group's access to financing

Photo: Bloomberg
Premium

Photo: Bloomberg

Abhishek Vishnoi | Bloomberg
The combined equity market value of Adani Group’s 10 companies slipped below $100 billion on Tuesday, as the embattled conglomerate struggles to reassure investors following a scathing report by a US short seller.
 
The ports-to-power group has now lost more than $136 billion in market capitalization since Jan. 24, when US-based Hindenburg Research published a report alleging accounting fraud and stock manipulation — accusations that Adani Group has denied repeatedly.

Billionaire Gautam Adani and his companies have hired legal and communication teams, cut expenses and repaid debt as they seek to calm traders concerned about the group’s access to financing.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 21 2023 | 11:10 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com