Adani bulls cut positions before US indictment
Mint Mumbai|November 25, 2024
On Thursday, post the news, the contract, which takes cues from the spot price, tanked 23% to ₹2,178.55
Ram Sahgal
Adani bulls cut positions before US indictment

Two days before a US court indicted senior officials of Adani Green Energy for allegedly bribing Indian state government officials to secure lucrative power contracts, bulls on two of the group companies' derivatives counters slashed their long positions, saving them from massive losses that hit the group shares after the news broke.

A report of the allegations, dismissed as "baseless" by the Adani Group, surfaced early on Thursday morning, leaving investors with a ₹2.24-trillion hole in their pockets at the end of the day.

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Diese Geschichte stammt aus der November 25, 2024-Ausgabe von Mint Mumbai.

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