MUMBAI: Shares in Indian billionaire Gautam Adani's conglomerate sunk again Friday after US charges alleging the tycoon paid more than $250 million in...
: Shares in Indian billionaire Gautam Adani's conglomerate sunk again Friday after US charges alleging the tycoon paid more than $250 million in bribes to secure lucrative government contracts rattled investor confidence.
Shares in Adani Enterprises, his conglomerate's main listed unit, sank more than four percent in morning trade, with similar losses in its listed ports and power subsidiaries. “We demand that Adani be immediately arrested. But we know that won’t happen as Modi is protecting him,“ Gandhi told reporters in New Delhi.
The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of “brazen” corporate fraud.
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