Political implications from the Adani fallout could be far reaching for India despite the short-term concerns over governance issues, says one economist.
Rajiv Jain is the co-founder and CIO of GQG Partners and is best known for investing in stable growing companies in the tobacco and energy sectors.
“Modi and business tycoon Adani are close allies; their fate is intertwined,” said billionaire investor George Soros
Index provider MSCI said it will delay implementing weighting changes for some Adani Group companies until later this year.
Moody’s lowered its outlook for four Adani Group companies, citing a “significant and rapid decline” in the market values of the entities.
India’s largest insurer LIC said it ‘might’ review its stake in Adani Group after meeting with the management.
Shares of India’s Adani Enterprises have plummeted over the past week after the publication of an extensive critical report from U.S. short-seller Hindenburg Research.
Adani Enterprises will be removed from the Dow Jones Sustainability Indices, effective Feb. 7, S&P said in an announcement.
Shares of Adani Enterprise were routed in the aftermath of a report from short seller Hindenburg Research
Shares of most of Adani Group companies continued to see sharp losses for a third consecutive trading session.
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