Shares in flagship firm of beleaguered Indian tycoon Gautam Adani plunge 10% at the open as Citigroup reportedly stops margin loans against Adani's securities; conglomerate sees $100 billion rout since Hindenburg report
Gautam Adani, who saw $100 billion rout in shares of his listed firms, says his conglomerate has"impeccable track record" of fulfilling debt obligations. Meanwhile, Citigroup stops accepting securities of his firms as collateral for margin loans.
In a video address on Thursday, Adani said the ports-to-airports conglomerate's cash flow has been "very strong" and that it has an "impeccable track record" of fulfilling debt obligations. Adani Enterprises late on Wednesday called off the share sale as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.Citigroup stops margin loans on Adani securities
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