The latest bank on the chopping block appears to be Credit Suisse, a Swiss bank whose shares plunged this week after the company announced a “material weakness” problem with its operations.
Shares of Adani Ports tanked 10 per cent, Adani Transmission (10 per cent), Adani Green Energy (10 per cent), Adani Power (5 per cent), Adani Total Gas (5 per cent), Adani Wilmar (4.99 per cent), NDTV (4.98 per cent), ACC (4.24 per cent) and Ambuja Cements (3 per cent). Adani Group Firms Shares Fall for Seventh Day Running; Stock of Adani Enterprises Tumbles 20% to Rs 1,173.55.
Quoting the Hindenburg Research Report, he said in the notice that crores of rupees of many public sector banks of the country including the State Bank of India (SBI) are at stake as the Adani Group has currently a debt of more than Rs 2.2 lakh crore. Hindenburg Report on Adani Group: AAP MP Sanjay Singh Gives Suspension of Business Notice in Rajya Sabha on Adani Issue.
Adani Ports and SEZ lost Rs 21 or dropped 4.36 per cent to Rs 473.55 on Thursday morning. The firm s shares had lost more than Rs 208 or 30.45 per cent in a period of five days. Adani Green s shares dropped 10 per cent to Rs 1,039 apiece, while it lost Rs 588 36.15 per cent in just five days. Adani Enterprises Continue With Losses After Share Price Dropped, Other Group Firms Follow Suit.