Adani sell-off grows to over $65bn in wake of short-seller attack

Group's flagship company is due to close secondary share sale on Tuesday

20230130 Adani

"It is tremendously concerning that the statements of an entity sitting thousands of miles away ... [have] caused serious and unprecedented adverse impact on our investors," Adani officials wrote, hitting back at Hindenburg Research. © AP

SAYAN CHAKRABORTY, Nikkei staff writer

BENGALURU -- Shares in most of the companies that are part of India's Adani Group fell again on Monday, extending overall losses in the value of the conglomerate's stock to more than $65 billion following a short-seller attack last week.

The drops came even as the group -- controlled by Gautam Adani, one of the world's richest people -- issued a detailed response late on Sunday to allegations of wrongdoing contained in a scathing report from Hindenburg Research.

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