India's Adani slammed by $48 bln stock rout
STORY: Shares associated with Indian conglomerate Adani plunged on Friday (January 27).
That after a scathing report by U.S. short seller Hindenburg Research
It flagged concerns about the firm’s debt levels and its use of tax havens.
That sent shares in group companies tumbling, with Adani Enterprises, the flagship, down almost 20%.
The slide wiped about $48 billion off the total market value of seven of its listed companies.
Market watcher Sunil Shah said the Hindenburg report had sparked alarm:
“So there is a mood of…little bit of fear and panic in the market as of now and that is the reason that markets are tanking and they have gone down."
Adani dismissed the report as baseless, and said it was considering taking legal action against Hindenburg.
But sources said Indian watchdogs were studying the short seller’s analysis, as it could help their own probe into the group’s financial affairs.
Adani was established in 1988 as a commodities trader.
Its business interests now extend from ports and airports to mining and renewable power.
It is controlled by Gautam Adani - one of the world’s wealthiest people.
His net worth took a hit due to Friday’s stock rout though.
It fell to just under $97 billion - making him the world’s seventh richest man, down from third.
The stock tumble also casts doubt on a record $2.45 billion share sale being conducted by the firm.
Sources said the company was concerned, but prepared to wait out the storm.
相關影片推薦
- 2:08以色列半島電視台遭下令關閉 被指責「為哈瑪斯喉舌」頻道變黑畫面 直擊警方突襲辦公室查緝設備Yahoo奇摩(國際通)11,267 次觀看・7 小時前
- 9:12習近平歐洲行 蔡正元揭北約秘書長「美國式謊言」!【風向龍鳳配】風向龍鳳配6,018 次觀看・9 小時前
- 2:16美軍首次AI駕駛F-16戰機 空軍部長親自體驗 擬創千架無人機隊「自行決定」發射武器Yahoo奇摩(國際通)18,567 次觀看・7 小時前
- 2:49帥老闆控女客跟騷4年 發「不自殺聲明」求助警華視影音122,429 次觀看・10 小時前
- 2:0250元硬幣怎分辨真假? 專家教你分辨真偽民視影音19,157 次觀看・1 天前
- 2:09北捷車廂內削筍挨罰 阿伯多日難眠:丟臉想移民華視影音57,960 次觀看・10 小時前
- 1:21北市信義區女陳屍屋中估逾2週 警鎖定丈夫追查華視影音7,697 次觀看・2 天前
- 1:15Energy超誇張簽到凌晨3點 柯佳嬿網路上「簽完了嗎」找坤達閃爆娛樂星聞12,606 次觀看・11 小時前
- 2:02停紅燈遭後車撞亡 業務員上班遇死劫獨留妻兒TVBS新聞網影音11,974 次觀看・3 天前
- 1:41工程師繳335萬直呼"繳稅好痛" 網驚:可以買進口車了民視影音26,788 次觀看・1 天前
熱門必看
- 13:05雪力神分析INF人!精彩到連唐老師都忘了講星座!?Ep.216-3唐綺陽談星室44,871 次觀看・6 天前
- 14:06到京都別只衝伏見稻荷神社 想變美、求戀愛運來這才內行Yahoo創作摩人31,626 次觀看・1 週前
- 11:30【淚之女婿】突變劇情被罵爆... 原來賢祐就是白血球?眼淚是海仁找回記憶關鍵?七大《女王》解析&主演幕後故事Ki笑人生85,705 次觀看・4 天前
- 8:05拿水沖香奈兒!?90萬小廢包沒人帶?! 2024精品新趨勢 永續環保最時尚!!Sherry袁曼軒10,431 次觀看・1 週前
- 7:40花200萬存0056後悔了?4年定期定額0050與0056投報大公開!SHIN LI27,464 次觀看・6 天前