Indian authorities seek to calm investors after Adani sell-off

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The story "Indian authorities seek to calm investors after Adani sell-off" was covered 1 months ago by Financial Times, a news publisher based in United States.

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Financial Times 1 mo ago

Indian authorities seek to calm investors after Adani sell-off - Financial Times

Quick Summary:

Analysts say that the selling across the group’s 10 listed companies has weighed down India’s otherwise buoyant Sensex index, which is up around 1 per cent over the same period.

Investors and opposition parties have for days demanded that the government clarify whether it is investigating Hindenburg’s allegations, accusing authorities of protecting the tycoon due to his longstanding relationship with Prime Minister Narendra Modi.

Stocks such as Adani Enterprises and Adani Green Energy have lost around 50 per cent in value since Hindenburg’s allegations were published on January 24.