Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme. Gautam Adani's flagship company Adani Enterprises tumbled 23%, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC, Ambuja Cements and NDTV fell between 9% and 20%. Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday. The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

Source: bd News24 November 21, 2024 08:45 UTC