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International Business Times
International Business Times
Business
AFP News

UNCOVERED: India s adani enterprises tanks after founder s us charges | History Defined

Gautam Adani has been charged by US prosecutors with paying more than $250 million in bribes to Indian officials for lucrative solar energy supply contracts (Credit: AFP)

Shares in India's Adani Enterprises slumped 10 percent at Thursday's open after US prosecutors charged billionaire industrialist founder Gautam Adani with paying hundreds of millions of dollars in bribes and hiding the payments from investors.

The steep losses in the Adani group's key firm was matched by heavy selling in its other key businesses, with Adani Power losing 11 percent and Adani Energy Solutions tanking 20 percent.

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