Dont worry about shorts but BUGS like this.
The Big Take
Adani’s $108 Billion Crisis Shakes Investors’ Faith in India
A short seller attack on the conglomerate raises bigger, darker questions about India’s credibility as a destination for global investors.
By
Bloomberg News
3 February 2023 at 10:30 GMT+10:30
Just 10 days ago, Gautam Adani and his sprawling energy-to-ports empire looked invincible. Now, a damning short-seller attack has left the billionaire battling the worst crisis of his corporate life — and is raising bigger, darker questions about India’s credibility as a global growth engine and a destination for international investors.
The Adani Group has shed $108 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in a Jan. 24 report. But it was only when the tycoon scrapped a $2.4 billion share sale this week that the potential for lasting impact became clear. Adani’s rebuttal had failed to reassure investors. Once ranked No. 2 among the world’s wealthiest, he has tumbled to No. 21 on the Bloomberg Billionaires Index.
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Last
$2.98 |
Change
-0.030(1.00%) |
Mkt cap ! $8.974B | |||
| Open | High | Low | Value | Volume |
| $3.00 | $3.11 | $2.97 | $82.16M | 27.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 65571 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.99 | 7500 | 1 |
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