Adani Group shares lose up to $13.4 bln after Hindenburg accusations against regulator
Adani Group companies lost as much as $13.4 billion in market value on Monday but recovered much of the losses after Hindenburg Research accused the head of India’s market regulator of having links to offshore funds also used by Adani.
The battle between Hindenburg Research and the Adani Group began 18 months ago when the U.S. shortseller alleged Adani improperly used tax havens, accusations which the conglomerate has denied.
Source: REUTER