MUMBAI: The rout in Adani group shares has room to run based on charts that show key stocks in Gautam Adani’s empire may still extend declines to the 85% downside flagged by Hindenburg Research.
The combined market value of the 10 listed companies in the group has slumped by $146 billion, or about 60%, since the US-based short seller released its report almost a month ago, alleging accounting fraud and stock manipulation. Adani has denied the allegations.
