US indictment: Adani's foreign backer GQG goes for buyback after stock slides 19%

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Times of India 6h ago

US indictment: Adani's foreign backer GQG goes for buyback after stock slides 19% - Times of India

Quick Summary:

India Business News: MUMBAI: GQG Partners, a major foreign investor in the Adani group companies, has initiated defensive measures to safeguard its share price following t.

Its shares showed partial recovery on Friday, closing 4% higher on Australia's ASX exchange following the share repurchase announcement.At 2.2 Australian dollar, the stock remains 16% below Wednesday's closing price.

On Thursday, it disclosed that less than 10% of its clients' assets are exposed to the Adani group following the US bribery allegations.