India’s Adani Enterprises dives 10% at open after founder’s US charges

MUMBAI: Shares in India’s Adani Enterprises slumped 10 percent at Thursday’s open after US prosecutors charged billionaire industrialist founder Gautam Adani with paying hundreds of millions of dollars in bribes and hiding the payments from investors.

The steep losses in the Adani group’s key firm was matched by heavy selling in its other key businesses, with Adani Power losing 11 per cent and Adani Energy Solutions tanking 20 per cent.