MUMBAI (Reuters) -India's market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday.
Australia opener Usman Khawaja will join his test team mates in India later on Thursday following a delayed approval of his visa, Cricket Australia said.
Indian shares reversed earlier gains to close lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled.
India's market regulator is examining a rout in the shares of billionaire Gautam Adani's companies, a source with direct knowledge told Reuters, as the losses triggered by a scathing U.S. short-seller report ballooned on Wednesday to $86 billion.
By Shankar Ramakrishnan, Svea Herbst-Bayliss and Carolina Mandl
NEW DELHI (Reuters) -Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.
India's Gautam Adani, the school dropout who rose to become one of the world's richest men, suffered a stunning defeat on Wednesday when his flagship firm withdrew a blockbuster share sale after an attack by a small U.S. investment firm over his business practices.
The Indian government is in touch with the market regulator SEBI regarding th allegations made by a U.S. short seller last weekthat cast doubts on Adani Group's business practices, a senior government source told Reuters on Wednesday.
Dollar bonds issued by entities of India's Adani Group extended losses on Wednesday after the conglomerate called off its $2.5 billion share sale following a rout sparked by a scathing short-seller report.
India's Adani Enterprises called off its $2.5 billion share sale on Wednesday, citing market conditions, amid an ongoing rout in the wider Adani Group's stocks sparked by a U.S. short-seller's critical report.
U.S. President Joe Biden is still weighing candidates for new top economic advisers, officials familiar with the process said, and no final decisions are expected before next week's State of the Union speech.