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NEW DELHI – Shares of Adani Group firms prolonged declines in Mumbai on Friday, with their market worth now greater than halved to lower than $100 billion after a essential report by a U.S. short-seller final week sparked a market rout.
Hindenburg Research questioned the Indian conglomerate’s debt ranges and use of tax havens. Adani referred to as the report baseless and mentioned its financials stay robust, but the following inventory market disaster has sparked broader considerations of attainable systemic influence.
Lawmakers have referred to as for a wider probe into the matter, and sources have instructed Reuters that the central financial institution has requested lenders for particulars of their publicity to the group.
In one of many bigges…
Keep on studying: India’s Adani shares nosedive as traders fret about Hindenburg fallout
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