Who is to blame for the Rs 50,000 crore rout in Adani group shares?

The writers of the article that triggered Tuesday’s fall in share prices got the wrong data, but the BSE and the market regulator need to answer why.

On Tuesday, a sharp fall in share prices wiped out Rs 50,000 crore in market capitalization across publicly traded Adani group companies. It was the biggest single-day loss in a month and came at a time when the worst seemed over for the group, following the publication of American short-seller Hindenburg Research’s report on issues with the conglomerate in January. In fact, the group’s shares seemed poised for a recovery after another US-based investment firm GQG Partners invested $1.87 billion earlier this month, buying shares of several firms.

The fall was triggered by an article in The Ken initially titled …


T Surendar

Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.

Executive Editor