TLI Staff
Mumbai: Adani group listed entities continued their downward trend on the bourses in the early trade on Monday reflecting investor concerns following Hindenburg Research report that accused the business conglomerate of ‘accounting fraud and market manipulation’.
The flagship Adani Enterprises shares tanked 2.40% on the BSE to Rs 1,803 apiece in the morning trade. The other group firms slid in the range of 1.62% to 5%.
With market capitalisation of the Adani Group firms consistently falling, Adani Group Chairman’s ranking on the Forbes’ billionaire list slipped further to 21th rank.
Opposition parties led by Congress have been demanding a debate on concerns raised around Adani Group in Parliament and insisted for a thorough probe by concerned regulators.
Adani Group on its part has denied allegations levelled by American short-seller Hindenburg Research.