India's Adani Group sees $30 billion in value wiped off after US indictments By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 21 2024
0mins
Source: Investing.com
Market Impact: Adani Group companies lost approximately $28 billion in market value after U.S. prosecutors charged Gautam Adani and others with bribery and fraud, leading to significant declines in their stock prices.
Legal Developments: The U.S. Justice Department issued a criminal indictment against Gautam Adani and his nephew, while Adani Green announced the halt of proposed bond offerings due to these legal issues, raising concerns about the group's credibility and potential borrowing costs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
