After a report by US short-seller Hindenburg Research accused the Adani Group of Gautam Adani-led ports-to-power conglomerate of accounting fraud and stock manipulation, the stocks of the listed lost around $120 billion.
Today’s rise in share prices helped the conglomerate to make up some of its losses, Bloomberg reported.
The rout in Adani shares has raised concerns over its ability to pay back loans. But Adani said Monday it was repaying early loans worth $1.1 billion, in a move meant to reassure investors.