Adani Group blames US DoJ’s fraud charges as US$55b wiped off market value, calls allegations unfounded

Quick Summary:

NEW DELHI, Nov 27 — India’s Adani Group conglomerate said today it had lost almost US$55 billion (RM244 billion) in a st...

Adani Group’s rapid expansion into capital-intensive businesses has raised alarms in the past, with Fitch subsidiary and market researcher CreditSights in 2022 warning it was “deeply over-leveraged”.

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad November 21, 2024.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndiaKenyaSri Lanka

Topics: US department of justice DOJ Adani Group Stocks Shares

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 17:17:05 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Malay Mail

News ID: 23904426

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Official Website: malaymail.com

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