Adani stocks crash after report says group under scrutiny of US regulators
Mumbai: All the 10 Adani Group stocks faced strong selling pressure on Friday after a Bloomberg report said that US regulators were on the group’s trail and looking at Adani’s past presentations to investors. With a 6.8% crash, Adani Enterprises stock led the slide in Friday’s relatively weak market during which the sensex closed 0.4% lower.
During the day Adani Group denied any wrongdoing, and said it operates within “a robust corporate governance framework” and was not aware of any subpoena to investors by US law enforcement agencies.
The Bloomberg report said that two US authorities— markets regulator Securities & Exchange Commission (SEC) and the Attorney’s Office in Brooklyn,
