Amid a political furore over a meltdown in the Adani Group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance.
Adani Group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led Group.
The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. The opposition, however, has been calling it a big fraud.
