On Monday, Adani Group companies saw a significant decline in market value, with losses amounting to as much as $19 billion. This drop came after Hindenburg Research made accusations against the Indian market regulator, suggesting links to offshore funds also utilized by Adani.
Adani Enterprises, the flagship firm of billionaire Gautam Adani, experienced a 2% decrease in morning trade, while other group companies saw declines ranging from 2% to 4.5%. Notably, Adani Enterprises and Adani Ports were among the top losers on India's Nifty 50 index. Although the initial plunge resulted in total losses of $19 billion, these losses later narrowed to $9 billion.
