Gautam Adani-owned Adani Group continues to suffer a market bloodbath as the shares of the companies fell by over 25% on Wednesday. The shares have tumbled after the January 24 report from US-based Hindenburg Research which flagged concerns about high debt levels and the use of tax havens. On Monday, Reliance's Mukesh Ambani replaced Adani as the richest person in India in Forbes Real-Time Billionaires List as the wealth of the latter takes a massive hit. Mukesh Ambani Overtakes Gautam Adani in Forbes Billionaires List, Becomes World's 9th Richest Person.
Adani Group Suffers Stock Crash:
BREAKING: Shares of Indian multinational giant Adani plunge by over 25%
— The Spectator Index (@spectatorindex) February 1, 2023
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