Adani-Hindenburg battle: Adani Group loses $65 billion in value

On Monday, most Adani Group shares dropped sharply as investors were unsatisfied with the Indian conglomerate's response to criticism from a U.S. short-seller.

The Indian group has been at odds with Hindenburg Research and responded to their research on Sunday.

Adani Transmission, Adani Total Gas, Adani Green Energy, Adani Power, and Adani Wilmar all experienced Monday declines of between 5% and 20%.

The second day of the $2.5 billion secondary share offering by Adani Enterprises came to an end amid gloomy market sentiment.

The market rout has now led to losses of $65 billion in the group's stock values.

Source: Reuters