Aborting the share sale sent shockwaves across markets, politics and business. “Adani may have started a confidence crisis in Indian shares and that could have broader market implications,” said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. Adani Enterprises shares tumbled 27 percent on Thursday, closing at their lowest level since March 2022. Adani Enterprises – described as an incubator of Adani’s businesses – has lost $26 billion in market capitalisation. Dollar bonds issued by entities of Adani Group extended losses on Thursday, with notes of Adani Green Energy crashing to a record low.
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