Adani Group, one of India’s largest conglomerates, has seen its stock value plummet by $65 billion as a result of an escalating battle with U.S. short-sellers. The short-sellers, who bet against the company’s stock, have been critical of Adani’s business practices, leading to a public relations nightmare for the conglomerate.
The value of Adani’s stock has plummeted amid increased scrutiny from investors and the public. Adani has faced criticism for its environmental practices, corporate governance, and its role in the development of a massive coal mine in Australia. The criticism has led to negative headlines and decreased investor confidence in the company.
In response to the criticism, Adani has hired public relations firms and launched a media campaign to defend its reputation. However, the efforts have not been enough to stop the stock’s decline, as investors remain cautious about the company’s future prospects.
The situation has put Adani’s expansion plans on hold and has raised questions about the conglomerate’s ability to raise capital for future projects. The company has invested heavily in infrastructure, energy, and logistics, but the recent drop in stock value has raised concerns about its financial stability.
The escalating battle between Adani and U.S. short-sellers has taken a toll on the company’s stock value, leading to a loss of $65 billion. The future of the conglomerate remains uncertain, as it faces ongoing criticism and a challenging economic environment. It remains to be seen how Adani will navigate this difficult period and restore investor confidence in the company.