Mumbai, Feb 3: The brutal stock rout in Gautam Adani’s companies continued Friday, an indication that the billionaire needs to do more to restore confidence in his conglomerate’s financial health after accusations of fraud by Hindenburg Research.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). UK Ex-PM Boris Johnson’s Brother Lord Jo Johnson Resigns as Director of Adani Group Linked Firm.
Adani Enterprises sank 26.5 per cent to Rs 1,564.70 on Bombay Stock Exchange which means the stock price has halved from the FPO floor price of Rs 3,112