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Adani Total's valuation matches Hindenburg's forecast with an 85% drop in stock, says Bloomberg
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Adani Total Gas Ltd is the first of the group's seven listed firms to reach that price, having been alerted to an 85% downside in Adani shares nine months ago by US short seller Hindenburg Research. The conglomerate's city-gas distributor's shares fell 2.6% to 575.7 rupees on Monday, extending their losses from their closing price of 3,891.75 rupees on January 24 to 85%, according to Bloomberg report.
Adani Total Gas has been impacted the worst, despite the fact that bonds and shares of other Adani companies have since rebounded, especially when the ports-to-power group got funding from GQG Partners. Also Read: Adani-Hindenburg Case: Sebi requests OCCRP for documents, refused "Exciting news! Mint is now on WhatsApp Channels
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