Indian group targeted by US short sellers reassures investors about loan repayments
MUMBAI: Shares in the flagship firm of the troubled Indian conglomerate Adani rocketed as much as 20% Tuesday, making up some of the huge slump suffered since last month.
The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled by the short-seller US investment group Hindenburg Research on Jan 24.
The slide has raised concerns about the group’s ability to raise fresh financing to pay down its debts. It cancelled a share sale, and…