Adani plans $84 billion spending after Hindenburg market rout

Adani plans $84 billion spending after Hindenburg market rout

Singh’s ambitious expenditure targets are part of Adani’s strategy to attempt to draw a line over damaging allegations made by Hindenburg Research in January.

Adani Plans $84 Billion Spending After Hindenburg Market Rout

(Bloomberg) — Adani Group plans to spend 7 trillion rupees ($84 billion) on infrastructure over the next decade, a similar amount the Indian conglomerate owned by billionaire Gautam Adani has lost in market value since corporate fraud allegations were leveled against it by a US short-seller earlier this year.