Indian shares fell more than 1% to an over three-month low on Friday as some Adani Group companies plunged 20% and hit their lower circuits in the wake of a short-seller attack on the conglomerate, which also dragged down financials.
were the worst performers on the Nifty 50, plunging more than 20% each.$2.45 billion follow-on public offering"The selloff is seriously extreme in the sense that day before yesterday Adani Group stocks saw a huge fall in market cap and today the same kind of episode is repeated," said Saurabh Jain, assistant vice-president, research, SMC Global Securities.
"It has clearly dented overall investor sentiment. The nervousness has led to a fall in stocks across the board. When a selloff of this kind of magnitude is seen in a very short span of time, investors sell other stocks where they are in the money."
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Adani Group fallout drags Indian shares to 3-month lowIndian shares fell more than 1% to a three-month low on Friday, as banks continued to lead the market lower along with Adani Group companies in the wake of a short-seller attack on the conglomerate.
Leer más »
Adani Group, India’s Biggest Corporation, Accused by Hindenburg Research of ‘Largest Con’ in HistoryAdani Group, India’s largest corporation and an aspiring media empire builder, has been accused by a U.S. investment firm of “pulling the largest con in corporate history.” Hindenburg Research, a f…
Leer más »
India's Adani Group says evaluating action against Hindenburg ResearchAdani Group said on Thursday it is evaluating taking 'remedial and punitive action' under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.
Leer más »
Adani Group says it's exploring legal action against HindenburgAdani Group says it's exploring 'remedial and punitive' legal action against a short-seller who accused it of market manipulation and fraud
Leer más »
Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff.
Leer más »