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Adani Group

Gautam Adani touts 'strong governance' in bid to soothe investors

Indian tycoon says market volatility is 'temporary,' pledges 'moderate leverage'

The Adani group has been thrown into crisis since U.S. short-seller Hindenburg Research released a scathing report in January.   © EPA/Jiji

BENGALURU -- Embattled Indian billionaire Gautam Adani on Tuesday tried to soothe investors by touting his conglomerate's "strong governance" and pledging to maintain "moderate leverage," after scathing allegations by a short seller wiped over $100 billion from the group's market value.

"Our success is due to our strong governance, strict regulatory compliance, sustained performance and solid cash flow generation," Adani said in a statement about group flagship Adani Enterprise's earnings for the October-December quarter. "The current market volatility is temporary ... [Adani Enterprises] will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow."

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