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The Times of India

Business

Bloomberg

Gautam Adani stock meltdown hits $92 billion as collateral worries grow

Gautam Adani Hindenburg Hindenburg Research India Mumbai Adani Enterprises

MUMBAI: The crisis of confidence plaguing Gautam Adani has taken a sudden turn for the worse, with a record 28% plunge in his flagship company’s stock raising questions over the extra collateral he needs to cover loans.

Adani Enterprises Ltd plummeted in afternoon trading in Mumbai after Bloomberg reported Credit Suisse Group AG has stopped accepting bonds of Adani Group’s firms as collateral for margin loans to its private banking clients. Banks including Barclays Plc had earlier asked for more shares to cover a $1 billion loan.

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Federal judge halts ICE detention centre construction at California site over environmental review

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One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Federal judge halts ICE detention centre construction at California site over environmental review

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