A short seller's report, in just over a week-and-a-half, has erased over a hundred billion dollars in value from one of India's largest companies.
The Adani Group, an Indian conglomerate with interests in ports, commodities and energy, has lost $118 billion in value—a 50% decline—since Jan. 24, when short seller Hindenburg Research accused the company of stock manipulation, fraud and poor governance.
