Adani Group’s troubles spur protests in India as stock turmoil turns political

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Hundreds of demonstrators from India’s main opposition party turned out Monday in India’s capital, New Delhi, and other cities demanding an investigation into allegations of fraud and stock price manipulation by India’s second-biggest business group, headed by coal mining tycoon Gautam Adani.

The Adani Group said Monday that its major investors, known in India as “promoters,” had pledged to prepay $1.1 billion in share-backed loans due for repayment by September 2024. The repayments include shares in Adani’s ports business, Adani Green Energy and Adani Transmission.

Shares in Adani Ports & Special Economic Zone jumped 9% after the announcement.




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