Adani Group, SHARES PLUNGE!

The Adani Group has lost almost $28 Billion in market value after the American Federal Prosecutors issued Arrest Warrants for, Mr Gautam Adani and his co-accused Executives on charges of fraud and kickbacks. The charges come after a $265 Million in kickbacks to Indian Government Officials in order for the Company to get Contracts for Solar Power Projects. Adani Enterprises and Adani Green Energy Shares plunged by double digits in two days trading activities. This turn of events has sent ripple effects to Adani's international joint ventures, with Total Energies suspending more investments in Adani Green Energy pending clarifications. In 2023, The Hindenburg Research Report alleged that, the Adani Group were manipulating Stocks and were in Financial Malpractices. The future for the Conglomerate could be complicated when it comes to capital-raising on International Money Markets. In India, Opposition Parties are demanding full investigations into the scandal. The Indian officials and Securities and Exchange Board of India (SEBI) haven't yet responded to requests for commet on the U.S. Warrants of Arrest. The Adani Green Energy Shares dropped by 17%. Other Firms' Stocks in the Group went down by 10%. The Group has lost $28 Billion in value, resulting in its Firms' combined market caps at $141 Billion. Before The Hindenburg Report, the Conglomerate's value was at $235 Billion. The Opposition Parties in India say that, Mr Gautam Adani is being favoured because he comes from the same State of Gujarat as the Indian Prime Minister, Mr Narendra Modi. It's, Mr Sagar Adani, a nephew to, Mr Gautam Adani, whose mobile phone is at the centre of the scandal. U.S. Prosecutors are pointing to evidence stored on, Mr Sagar Adani's cellular phone. The device contains vital detailed data about the $265 Million kickbacks scheme involving Indian Government Officials. Data in the phone has names and amounts paid to Officials.