Hours after political party Congress demands ‘serious probe’ by RBI, SEBI into charges against Adani Group, a Reuters report says that India’s market regulator has increased scrutiny of deals by the Adani Group over the past year and will study a report issued by short-seller Hindenburg Research.
On Wednesday, the US-based Hindenburg Research said it had short positions in Adani Group shares accusing it of fraud, improper use of offshore tax havens and flagging concerns about high debt, leading to a massive sell-off of in Adani Group shares.
Shares of Adani Group companies on Friday continued to see sharp losses for a second consecutive trading day. Adani Total Gas lost ₹79,788 crore on Friday, followed by Adani Green Energy, which lost ₹57,876 crore, and Adani Transmission that lost ₹52,531.90.