NEW DELHI: The selloff in Adani Group shares is stretching into a third week despite efforts to stem contagion, spurring a flurry of bets in option markets that may give traders clues on how long the declines will last.
Six of the group’s 10 stocks slid Monday, increasing losses since US short-seller Hindenburg Research made fraud allegations against the conglomerate on January 24 to about $117 billion. Billionaire Gautam Adani and his family have prepaid $1.11 billion of borrowings backed by shares to ease investor concerns, the group said in a statement Monday.
