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The Latest Breaking News from Adani Enterprises

The Weekly Wrap for Saturday, 4 February 2023

Asia's richest man has watched a quarter of his fortune evaporate in a week. An industrial empire is teetering. And it's all because of one teeny-weeny little memo.

inkl Originals

The Adani Group lost $118 billion in value in 10 days. Here’s how it happened in charts

Adani Group shares are in freefall following the release of a report from Hindenburg Research alleging stock manipulation and fraud.

Fortune

India's Adani denies rise due to Modi as shares fall again

Mumbai (AFP) - Beleaguered Indian tycoon Gautam Adani denied Friday that his rise to become Asia's richest man -- a title he has lost in a phenomenal stock rout -- was due to Prime Minister Narendra Modi, as shares in his conglomerate fell again.

AFP

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Indian tycoon Adani hit by more losses, calls for probe

Losses for the troubled Adani Group, India’s second-largest conglomerate, have deepened as shares in its flagship company tumbled another 25%

The Independent UK

India's Adani denies rise due to Modi as shares slump again

AFP

Adani Enterprises shares suspended as price slumps again

Mumbai (AFP) - Shares in the flagship firm of beleaguered Indian tycoon Gautam Adani were repeatedly suspended on Friday as a rout triggered by allegations of accounting fraud deepened.

AFP

India’s Adani’s losses swell above $100bn

India’s central bank is examining the exposure of banks to the group as its various firms continued to tank.

Al Jazeera

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Billionaire Adani's Empire Loses $107 Billion

The crisis of confidence shaking the Indian conglomerate worsens day by day.

The Street

Losses of Billionaire Adani's Empire Rise to $107 Billion

The crisis of confidence shaking the Indian conglomerate worsens day by day.

The Street

Billionaire Gautam Adani Breaks Silence to Stop Collapse of His Empire

The Indian tycoon speaks out for the first time since his group faced accusations of fraud from New York short-seller Hindenburg Research.

The Street

European stocks climb after rate decisions

London (AFP) - European stock markets rose on Thursday after the European Central Bank and Bank of England raised interest rates, joining the US Federal Reserve in moving once again to cool sky-high inflation.

AFP

Share debacle a rare setback for Indian tycoon Adani

India's Gautam Adani was Asia's richest man when the U.S. short-selling firm Hindenburg Research put out a report last week alleging his businesses have engaged in fraud and stock price manipulation

The Independent UK

India opposition MPs seek Adani probe as group losses top $100bn

Opposition MPs call for parliamentary investigation after US-based short seller accuses Adani Group of fraud.

Al Jazeera

European stocks jump before rate decisions

London (AFP) - European stock markets rallied Thursday before interest rate decisions from the European Central Bank and Bank of England and following the US Federal Reserve's latest hike aimed at cooling sky-high inflation.

AFP

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Bangkok Post

Adani losses top $100bn after fraud claims

MUMBAI: The business empire of under-fire Indian tycoon Gautam Adani has lost more than $100 billion in value over the past week as shares in several firms plunged again on Thursday, a day after the group cancelled a multi-billion-dollar public offering.

AFP

Markets mixed as early Fed-fuelled rally peters out

Hong Kong (AFP) - Markets were mixed Thursday, with investors unable to maintain an early rally despite a strong lead from Wall Street fuelled by hopes the Federal Reserve's campaign of interest rate hikes could be close to an end.

AFP

India's Adani empire loses more than $100 bn after fraud claims

Mumbai (AFP) - The crisis around Indian tycoon Gautam Adani deepened Thursday with the total loss of value to his indebted empire topping $100 billion after it abruptly cancelled a stock sale.

AFP

Asian markets track Wall St higher after softer Fed tone

Hong Kong (AFP) - Most Asian markets rose Thursday and the dollar weakened further on hopes the Federal Reserve's campaign of interest rate hikes could be close to an end after it acknowledged progress in its long-running battle against inflation.

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AFP

India's Adani shares plunge again after stock sale cancelled

Mumbai (AFP) - Under-fire Indian tycoon Gautam Adani insisted Thursday that the fundamentals of his conglomerate were "strong" even as shares in its companies plunged again after the group cancelled a multi-billion-dollar stock sale.

The Street

Billionaire Gautam Adani's Empire Makes a Shocking U-Turn

The day after a successful share sale, the conglomerate of Asia's former richest man has decided to return investors their money.

Reuters

Adani abandons $2.5 billion share sale in big setback to Indian tycoon

Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

Reuters

Exclusive-Indian market regulator examining Adani share rout, source says

India's market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday.

Newslaundry

Adani scraps FPO as group stocks plummet. What's happening?

By now, you might have heard about the tanking shares of the Adani firms. And how Gautam Adani, who was recently the second richest man in the world, has now dropped to the 15th position in the Forbes’ list of the world’s wealthiest. All over a week.

The Street

$90 Billion Collapse of Billionaire Adani's Empire

The Indian tycoon's conglomerate is being routed on the stock market, and where it ends is unclear.

AFP

Adani shares nosedive as Indian tycoon drops down rich list

Mumbai (AFP) - Shares in Gautam Adani's empire nosedived again on Wednesday as the Indian tycoon dropped off the Forbes top 10 rich list following allegations of massive accounting fraud.

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