Adani shares tumble 20pc as US prosecutors allege US$250m bribery scheme

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MUMBAI, Nov 21 — Shares in India’s Adani Enterprises slumped 20 percent today after US prosecutors charged billionaire i...

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

Adani, born to a middle-class family in Ahmedabad, Gujarat state, dropped out of school at 16 and moved to the financial capital Mumbai to find work in the city’s lucrative gem trade.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndia

Topics: Adani Bribery

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 14:39:38 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 588 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 23731901

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