Adani Bubble Burst? From Global Rank 3 to 21 in Just Ten Days
The US based Hindenburg Research report accusing the Adani Group of brazen stock manipulation and accounting fraud brought a Tsunami in the stock market and Adani group companies’ stock price tumbled like a pack of cards wiping out $108 billion market cap in ten days. As share prices tumbled, Adani fell from global rank 3 to 21 in just ten days as per Bloomberg. Is the Adani bubble burst?