Mumbai: Adani Group’s dollar bonds and stocks plummeted on Monday, on news that US prosecutors have widened their probe of the conglomerate to focus on whether it engaged in bribery.
Several Adani Group dollar bonds experienced their worst fall in over six months. Adani Ports & Special Economic Zone Ltd’s 2041 bond saw the biggest drop, plunging 2.4 cents to 79.1 cents, its steepest decline since August 2023. A bond from Adani Renewable Energy Ltd fell 2.3 cents to 83 cents, its sharpest decline since February 2023.
The selloff extended to the company’s stocks as well. Shares of…
