Adani shares fall up to 15% after US SEC move
mumbai/Bengaluru, Jan. 24 -- News of the US market regulator seeking to send summons in a bribery case directly to Adani Group promoter Gautam Adani and his nephew Sagar sent the group's listed stocks tumbling between 3% and 15% on Friday. Mint calculations show the stocks cumulatively lost nearly a tenth of their value, or a market capitalization loss of over Rs.1.1 trillion.
Shares of Adani Green Energy Ltd plunged 14.6%. Among other stocks, shares of Adani Energy Solutions ended 12% down, Adani Enterprises Ltd fell 10.7%, Adani Ports and Special Economic Zone 7.5%, and Adani Power declined 5.5%. Other Adani Group firms also fell 3-5%.
To be sure, the share price fall comes amid a wider market selloff, with the benchmark Sensex falling 0....
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