New Delhi. The Indian Adani group is still finding it difficult to recover losses, even after a January report by American short seller firm Hindenburg Research. The decline in the market capitalization (Adani MCap) of group companies and the net worth of chairman Gautam Adani (Gautam Adani’s capitalization) has not been able to recover so far. Simultaneously, several deals of the Adani group are getting stuck one after the other.
Deal worth Rs 400 crore stalled According to a report in Economic Times, the list of stalled deals continues to grow and now the name of the proposed deal with aircraft maintenance company Air Works has also been added to it. Adani Group had planned to buy Air Works for around Rs 400 crore (about $53 million). For this, several rounds of talks were also held between the two sides. But now this deal has stalled.
Allegations were raised against some of the Adani group companies in the Hindenburg Research report. Due to this, the share prices of Adani Group were seen to fall and the net worth of Chairman Gautam Adani was also reduced. This loss group has not yet been fully compensated. The stalling of the deal with Air Works is a big sign. This clearly shows that Adani Group’s deals are getting hit and they are finding it difficult to invest in new business ventures. Apart from this, the Adani group is also facing failure in deals in various sectors.