More than $145 billion has been wiped from the value of Gautam Adani’s business empire in the month since US short seller Hindenburg Research first accused the company of stock market manipulation and accounting fraud, according to a report by the Financial Times.
More than $145 billion has been wiped from the value of Gautam Adani’s business empire in the month since US short seller Hindenburg Research first accused the company of stock market manipulation and accounting fraud, according to a report by the Financial Times.
The sell-off erased more than 60% of the value of Adani’s companies which include ports, airports, and energy businesses.
Hindenburg’s allegations have been strongly denied by Adani, but share prices remain under pressure with the overall market capitalisation of the group’s listed entities on Friday falling to the lowest level since Hindenburg released its report.
