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Adani Shares Rebound After $27 Billion Rout on US Bribe Charges
stock :: 2024-11-22 :: source - bloomberg
By Ashutosh Joshi and Chiranjivi Chakraborty
Most Adani Group stock rebounded, led by the green energy unit, after US prosecutors’ charges of bribery against founder Gautam Adani erased $27 billion from the conglomerate’s market value on Thursday.
Adani Enterprises Ltd. reversed losses of as much as 7.3%, after the 23% plunge on Thursday made the stock the most oversold in 18 months. Adani Ports & Special Economic Zone Ltd. rose as much as 2.4%, while Adani Green Energy Ltd. rallied 6.5%. Nine of the group’s 10 firms rose..Read more
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