Nothing rotten in the state of Adani

The market, a compass, if anything, of the wisdom of crowds, reacted to the verdict positively. The group's market cap at the end of Wednesday was ₹15.1 trillion, gaining ₹63,795 crore on a single day, up from ₹14.47 trillion the day before the verdict. A key question in the ongoing probe is about the beneficial ownership of the foreign portfolio investors (FPIs) that are stakeholders in the Adani companies.

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