Beaten-up Adani stocks have now fallen below $100 billion in market value after coming under short-seller attack

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Gautam Adani
Gautam Adani.

Photo credit should read SAM PANTHAKY/AFP via Getty Images

Indian government cancels 'Cow Hug Day' anti-Valentine's celebration after it was widely mocked

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A Hindu devotee offers food to a cow during Gai Puja - cow worship - as part of the Gopal Ashtami festival, in Amritsar on November 11, 2021.
A Hindu devotee offers food to a cow during Gai Puja - cow worship - as part of the Gopal Ashtami festival, in Amritsar on November 11, 2021.

NARINDER NANU/AFP/Getty Images

The world's largest stock investor — Norway's sovereign wealth fund — has dumped its remaining shares in Adani companies worth $200 million

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Gautam Adani
Gautam Adani's conglomerate has been under pressure following a short seller attack.

Photo credit should read SAM PANTHAKY/AFP via Getty Images

Top Indian refiners are using the UAE's currency instead of the US dollar to buy Russian crude, report says

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Oil tanker

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India's stock market crisis isn't just the Adani Group's problem — it's a political issue for Prime Minister Modi too

Tech Insider : Politics
Members of Congress party demand an investigation into allegation of fraud by Adani group according to Hindenberg investigation, alleged investment by LIC and SBI in Adani Group and protest against Narendra Modi government over the issue on February 6, 2023 in Kolkata, India.
Ties between Indian tycoon Gautam Adani and Prime Minister Narendra Modi are under scrutiny.

Samir Jana/Hindustan Times/Getty Images

The massive selloff in Adani shares eclipses those of other short-seller targets like Enron and Wirecard

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An activist of the youth wing of India's main opposition Congress party holds a placard featuring Gautam Adani, chairman of Adani Group, during a protest against what they say are investments by Life Insurance Corporation (LIC) and State Bank of India (SBI) in Adani Group, in New Delhi, India, February 6, 2023.
Gautam Adani's business empire has been under pressure ever since US short seller Hindenburg Research leveled allegations of alleged market m

India's stock regulator tried to calm jittery investors fleeing the stock market — but even that's not helped Gautam Adani, whose companies' shares continue to take a beating

Tech Insider
Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023.
Indian tycoon Gautam Adani's business empire has been targeted by a short seller.

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Fuel made from Russian oil is being funneled to New York by Indian refiners that are snapping up discounted crude

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Oil tanker

Getty Images

Adani's crisis is casting a cloud over India — and it could benefit China, which is just reopening after 3 years of COVID isolation

Tech Insider : Politics
Indian Prime Minister Narendra Modi (R) with Chinese President Xi Jinping (L).
Indian Prime Minister Narendra Modi with Chinese President Xi Jinping.

Mikhail Svetlov/Getty Images

Gautam Adani lost $52 billion in 6 days. That's over 3 times what Sam Bankman-Fried lost in a similar timeframe.

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Founder and chairman Of Adani Group, Gautam Adani.
Gautam Adani has lost $52 billion over six trading days after a collapse in his companies' share prices.

Ramesh Dave/Mint via Getty Images)

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