Shares linked to India tycoon Enemies may collapse as foreign currency cools

Shares in companies linked to India’s wealthy Gautam Adani, one of Asia’s richest men, have fallen sharply after the country’s largest security reserve, valued at $ 1 billion.

Four of the six companies listed by the Adani Group came down with the amount that the Exchange Act approved on Monday, while the billionaire Ada Ports & Special Economic Zone record fell to 19%.

The decline followed the announcement by the National Securities Depository in India to close the accounts of Albula Investment Fund from Mauritius, Cresta Fund and APMS Investment Fund. The Indian newspaper The Economic Times also claimed that the move, which restricts the sale of shares, was due to a lack of title deeds.

Enemy’s total wealth rose from $ 44bn to $ 78bn this year according to a price tag for companies that link its strengths to apples. This made him stay on The second richest man in Asia, we are sweeping the top Chinese titles such as Alibaba Jack Ma and ByteDance founder Zhang Yiming and close to the seat of Reliance Industries Mukesh Ambani.

The collapse of Adani-linked stocks on Monday erased more than $ 6bn from tycoon prices, according to Bloomberg figures, putting them at a low price of $ 71bn.

Last year, Adani Transmission shares increased by 640%, Enemies Enterprises 860% and Enemies Total Gas 1,030%.

But analysts have complained about stocks being held by fewer foreign currencies and being owned by fewer people.

Researchers at Bloomberg Intelligence reported last week that the group meeting at Adani Total Gas, Adani Enterprises and Adani Transmission appears “larger”.

“Among the foreign exporters are small remittances from Mauritius that have a 95% offset value in these companies,” the experts said. “Having such a place, as well as having a few people on the coast, brings a small reward because older women avoid the Enemy.”

The Enemy Group declined to comment. The NSD did not immediately respond to a request for comment.

The retail market in India has arrived recently high notes as the economy struggles to recover from the second most common wave of coronavirus infection.

The indices offered by MSCIs also added three Enemy shares in India in May.

The enemy has lured its partners around the world to become one of the world’s leading power companies. Number in January bought a 20% stake in Adani Green Energy, which last month he found India Energy Unit of the technical team at Japan SoftBank.

The architect had been criticized for his inconsistencies Carmichael’s coal mine in Australia, which has been the scene of international exhibitions.