MUMBAI: Adani group stocks slumped to erase over 523 billion rupees ($6.4 billion) in market value on Tuesday, the biggest decline since early February, on renewed concerns over the ports-to-power conglomerate’s ability to repay its debt.
Adani Ports and Special Economic Zone Ltd fell more than 9%, dipping below the price GQG Partners paid to buy a stake earlier this month. The group is seeking to renegotiate the terms of $4 billion worth of loans, the Economic Times reported, citing people it didn’t identify.
