MUMBAI – Stocks in several of Gautam Adani’s companies clawed back on Monday some of last week’s heavy losses that wiped out almost $45 billion from the Indian tycoon’s vast business empire.
The slump was sparked by a report by US short-seller investment group Hindenburg Research that alleged “brazen stock manipulation and accounting fraud scheme over the course of decades”.
The conglomerate said it was the victim of a “maliciously mischievous” reputational attack and late Sunday issued a 413-page statement that it said rebutted Hindenburg’s claims.
Dubbing…
