Pressure mounts on the Adani Group as global ratings agency Moody's downgraded some listed units, while MSCI cut the weightings of some companies in its indexes.
Moody's Investor Service on Friday revised downwards the rating outlook on four Adani Group companies to negative from stable after a significant and rapid decline in market value following a report by US-based short seller Hindenburg Research.
Battered down bond prices and heightened price swings on many Adani securities have drawn in new investors, according to hedge fund managers, traders and investors.