AMN
All 10 stocks belonging to billionaire Gautam Adani’s vast empire crashed under the impact of the Hindenburg report today. While Adani Ports crashes 15%, Adani Total Gas, Adani Green Energy and and Ambuja Cements were trading 10% lower today.
NEW DELHI: Even though the Rs 20,000 crore follow-on public offer (FPO) of Adani Enterprises sailed through on Tuesday, shares of Adani’s flagship entity crashed 30% on Wednesday amid report that Credit Suisse has stopped accepting bonds of Adani companies as collateral for margin loans.
Credit Suisse has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai, according to a Bloomberg report