How Gautam Adani lost $70 billion overnight
lost $70 billion overnight
Most Adani Group shares went down a lot on Monday because the Indian conglomerate's answer to criticism from a US short-seller didn't make investors feel better. This made a market crash worse, and now the group's stocks are worth $65 billion less than they were before. Hindenburg Research and the Indian conglomerate run by Asia's richest man, Gautam Adani, are in a heated argument. On Sunday, they responded to the short-report seller's report from the week before, which had made people worried about the company's high debt and use of tax havens.