Adani ammo comes in handy for both sides in House battle
Wednesday, 9 August 2023 As it struggles to claw back the wealth it lost because of the allegations levelled by global short seller, Hindenberg, the Adani Group found itself caught in the intense political crossfire over the no-trust vote, with BJP and Congress accusing each other of favouring the conglomerate. “The tribals kept protesting, still their land was given away to Adani's”, as she reeled off the “benefits” allegedly given by Congress and other non-BJP governments to Adani Group, starting from the go-ahead for building Mundra port.
As the counting trend suggested major gains for the Opposition's INDIA alliance in the Lok Sabha election, Rahul Gandhi slammed the Narendra Modi-led government and said that the Opposition fought this election not just against the BJP but all the institutions it had "captured." "We fought this election against the Bharatiya Janata Party, Indian governance structure, probe agencies, judiciary and other public institutions, since these all had been captured by the Modi government," Gandhi said. "The public directly related Modi and Adani. If Modi loses, the stock market says Modi is gone so Adani is gone. There is a direct relationship of corruption between them," he alleged. Indian stocks suffered their worst intraday fall since March 2020 on Tuesday, as vote counting trends in the general election suggested Prime Minister Narendra Modi's alliance was unlikely to win the overwhelming majority predicted by exit polls.
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Witness the aftermath of the Lok Sabha Election Results 2024 as Adani Group shares plummet by billions, sparking a bloodbath in the share market. Join Oneindia for in-depth analysis and real-time updates on the economic repercussions of this seismic political event.
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Wednesday, 9 August 2023
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