Adani Group: What's Behind the Share Price Fall?
Background Adani group is an Indian multinational conglomerate. It was founded by Gautam Adani and is headquartered in Ahmedabad, Gujrat. Initially it was engaged in the commodity trading business but subsequently expanded in many other businesses like logistics, defense, aerospace, financial services, real estate, agriculture, etc. and came up with many subsidiaries. Performance Records Adani Group maintained consistently rising revenues since 2009. As it can be seen in the chart given below, they earned whooping profit over the years, except for a huge downfall in the year 2017. This was because in August 2017, Indian Custom alleged that Adani groups have diverted funds from the company's book to Adani family tax havens overseas. Source: Business Standard In the below graph, we can see the rising slope of the market performance of the firm in the preceding financial year. The Downfall of 2021 The group was receiving a positive response in the share market ...