How Adani Group's founder once named the richest man in Asia and once second only to Elon Musk, lost nearly $70 billion in days
of Indian media group NDTV. In a filing, the media company said the move was "carried out without any consent" from its founders.with Israel Prime Minister Benjamin Netanyahu on Tuesday., the Indian conglomerate has completed its $1.15 billion takeover of Israel's Port of Haifa.Hindenburg's allegations have raised questions about Adani Group's expansion, mostly driven by debt, and the lax regulations that allowed acquisitions to proceed.
"In the near term, sentiment and flows may be adversely impacted, but this should not have a lasting impact over the medium-term," said Sonal Varma, Nomura's chief economist for India and Asia outside of Japan told CNBC"The key drivers of India's medium-term growth prospects remain intact, corporate and banking balance sheets are much stronger, reforms are focused on enabling investments and raising productivity, and as a large market, India will benefit from the ongoing...
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Adani market cap plunge deepens to $72 billion as Hindenburg face-off escalatesAdani market cap plunge deepens to nearly $72 billion even after the conglomerate issued a 413-page rebuttal to short-seller Hindenburg
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Everything you need to know about the Adani-Hindenburg face-offEverything you need to know about Gautam Adani and Hindenburg after the short seller's fraud allegations burnt a $72 billion hole in the richest Asian's empire
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Hindenburg says Adani has been 'systematically looting' IndiaHindenburg says Adani has been 'systematically looting' India as the conglomerate accuses the short-seller of `conflict of interest'
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Asia's richest man, Gautam Adani, accuses short-seller Hindenburg of attacking IndiaIndia's Adani Group, run by Asia's richest man, has hit back at a report from U.S.-based short-seller Hindenburg Research, calling it 'malicious,' 'baseless' and full of 'selective misinformation.'
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Explainer: Adani vs Hindenburg: What you need to knowU.S.-based short-seller Hindenburg Research severely criticised Indian conglomerate Adani in a Jan. 24 report ahead of its flagship company's $2.5 billion share sale, triggering a $70 billion rout in the group's domestically listed stocks and a sell-off in its bonds listed overseas.
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