Adani Group Loses $34 Billion Amid US Indictments

CosmicTaco · 2024-11-21T16:09:50.064064+05:30

* Adani Group's market value plummeted by $34 billion following US indictments against its chairman for alleged bribery and fraud. * The conglomerate's shares fell sharply, with Adani Enterprises experiencing its worst one-day drop since February last year. * The accusations come within two years of allegations by Hindenburg Research of tax evasion and stock manipulation, which Adani Group has denied. Source: [Reuters](https://www.reuters.com/world/india/indias-adani-shares-tumble-after-us-indicts-group-chairman-bribery-case-2024-11-21/)

Adani Group's market value plummeted by $34 billion following US indictments against its chairman for alleged bribery and fraud.
The conglomerate's shares fell sharply, with Adani Enterprises experiencing its worst one-day drop since February last year.
The accusations come within two years of allegations by Hindenburg Research of tax evasion and stock manipulation, which Adani Group has denied.

Source: Reuters