Stocks in free fall, Adani loses $100 billion
The meltdown in Adani group stocks and overseas bonds continued on Thursday, a day after the embattled tycoon pulled the Rs 20,000-crore follow-on public offer (FPO) of shares in flagship Adani Enterprises, with over $100 billion of paper wealth estimated to have been torched since the scandal erupted last week. Adani Enterprises sank 26.5 per cent to Rs 1,564.70 on the BSE — which means the stock price has halved from the FPO floor price of Rs 3,112. Stocks of other group companies also wilted. Adani Transmission, A...