$2.4 billion wiped off Adani shares after Hindenburg allegations against regulator

Adani Group, the Indian conglomerate rocked by a Hindenburg Research report last year, faced another heavy share selloff on Monday after the shortseller accused the head of India’s market regulator of having links to offshore funds also used by the group.

$2.43 billion, or 1%, had been wiped off the market value of Adani companies by the end of the trading day, although that was a substantial recovery from earlier losses of more than $13 billion.

Source: REUTER