Gautam Adani's US indictment rattles stocks, Kenya cancels airport deal

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Gautam Adani's US indictment rattles stocks, Kenya cancels airport deal - Business Standard

Quick Summary:

Gandhinagar: In this Wednesday, Jan.10, 2024 file photo, Adani Group Chairperson Gautam Adani speaks during the Vibrant Gujarat Global Summit 2024, in Gandhinagar.

The Adani Group companies as a whole lost about $27 billion in value in Thursday's trade in India, putting their combined market capitalization at about $142 billion.

In the first major business fallout of the indictment, Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process expected to hand control of the country's main airport to Adani Group following the indictment of the company's founder in the United States.