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."
