MUMBAI: Adani group shares dropped at the start of trading, ending a two-day reprieve, after MSCI Inc said it was reviewing the amount of Adani group-linked shares freely tradable in public markets.
Nine of the group’s 10 stocks declined, with flagship Adani Enterprises Ltd dropping as much as 10% following a 35% jump over the previous two sessions. The group’s market value has plunged over the past two weeks after US short-seller Hindenburg Research published a critical report, with losses of as much as $117 billion.
