Gautam Adani group's market losses hit $100 billion
Adani Enterprises, a conglomerate led by Gautam Adani, has decided to shelve a $2.5 billion share sale amid a turbulent market. This brings the conglomerate's cumulative market capitalization losses to $100 billion since last week's US short-seller Hindenburg's report. The withdrawal of share sale marks a dramatic setback for Adani whose fortunes rose rapidly in recent years in line with the stock values of his businesses.
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