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Adani too entwined in India’s political economy to fail, say analysts
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Adani Group lost half its market value in just 10 days after US short seller Hindenburg Research accused it of fraud and stock market manipulation.
PHOTO: EPA-EFE
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BENGALURU – Concerns are mounting in India on the impact of the Adani Group’s share price crash on the Indian stock market, the major banks it has borrowed from and the infrastructure projects the company helms.
The ports-to-power empire lost half its market value in just 10 days after US short-seller Hindenburg Research accused it in January of fraud and stock market manipulation.
