BENGALURU -- Companies under Indian conglomerate Adani Group lost as much as $26.5 billion in market value on Thursday, after a U.S. federal court indicted billionaire tycoon, Gautam Adani, accusing him of bribing Indian government officials in exchange for solar energy contracts.
Adani Group
Gautam Adani's U.S. indictment shaves $26.5bn off group stocks
Conglomerate calls allegations 'baseless' and seeks legal recourse
Shares of several Adani group companies, including flagship Adani Enterprises and a renewable energy company, fell sharply in early trading on Nov. 21. (Photo by Ken Kobayashi)
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