The Adani Group’s historic market meltdown has shown some signs of improvement, with a $1.9 billion investment from high-profile money manager GQG Partners, following a tour to restore confidence.
However, a closer look at billionaire Gautam Adani’s empire reveals doubts about the group’s longer-term repayment abilities. Despite renewed efforts to appease investors, uncertainties over credit ratings and stock-market slumps continue to fan worries about Adani’s access to funds.
Hindenburg Research’s allegations of fraud have erased $153bn from the group’s stocks. While concerns over a debt blowup in the next three years may have receded, indicators including bond risk, stock slump, shaky ratings, and investment calls will continue to be key factors to monitor as the crisis of confidence unfolds.
