Adani debacle threatens fallout on India’s wider economy
06 February 2023 |
10:48 am
This week, a major upheaval hit one of India’s top business empires. Adani Group has operations in everything from coal mining to telecoms. Its seven main units were recently worth an estimated $220 billion. But a blistering report by an American investor research firm accusing the conglomerate of massive fraud and market manipulation has sent its stock price plummeting, along with the personal fortune of billionaire founder Gautam Adani.
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