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Adani Group market cap hit by over $100B

Adani Group market cap hit by over $100B

India's Adani group shares plunged today at 12 noon after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week's short-seller attack.

The withdrawal of Adani Enterprises' share sale marks a dramatic setback for Adani after the Hindenburg research expose, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years in line with the stock values of his businesses.

Adani Group market cap hit by over $100B

Adani Group market cap hit by over $100B

India's Adani group shares plunged today at 12 noon after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week's short-seller attack.

The withdrawal of Adani Enterprises' share sale marks a dramatic setback for Adani after the Hindenburg research expose, the school dropout-turned-billionaire whose fortunes rose rapidly in recent years in line with the stock values of his businesses.

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