The sell-off in India's Adani Group's seven listed companies, where more than $110 billion in market value has already evaporated, continued on Monday as a U.S. short-seller's report critical of the group's finances now led to credit warnings.
on Friday that the group may struggle to raise capital and S&P cut its outlook on two group companies, the latest fallout of Hindenburg Research's Jan.
24 report that questioned the conglomerate's debt levels and use of tax havens.sank 9.6% on Monday, taking the group's flagship company's losses to nearly $28 billion since the report.
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India's Axis Bank says it is comfortable with exposure to Adani GroupIndia's Axis Bank on Saturday said its exposure to Adani Group entities stood at 0.94% of its net advances on Dec. 31, adding that it remained comfortable with its exposure.
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India's market regulator says markets stable amid Adani stock routIndia's market regulator on Saturday said that Indian financial markets remain stable and continue to function in a transparent and efficient manner.
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Adani Group plans to trim its capital spending plans, Mint reportsIndia's Adani Group plans to trim its capital spending plans, newspaper Mint reported on Monday citing people close to the development, days after the conglomerate's flagship firm called off a $2.5 billion share sale.
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Indonesia president warns regulator to boost supervision after Adani routIndonesian President Joko Widodo urged on Monday his country's financial regulator to strengthen supervision on capital markets in the wake of the crisis at India's Adani Group.
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