What is the total market value lost by Adani Group companies?

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Adani Group Suffers US$55 Billion Market Value Loss Following Fraud Allegations

The Adani Group conglomerate has experienced a significant market value decline of nearly US$55 billion (RM244 billion) in the wake of fraud accusations leveled against its founder and other officials by U.S. prosecutors. This substantial loss has impacted the market capitalisation across all of the group's 11 listed companies since the indictment was issued.
Market Capitalisation Erosion Post-Indictment

Following the U.S. Department of Justice's indictment on November 20, the Adani Group reported a loss of approximately US$55 billion in its overall market capitalisation. This figure represents the cumulative decrease in value across the conglomerate's 11 publicly traded entities. The indictment, originating from New York, specifically accused founder Gautam Adani and several subordinates of intentionally deceiving international investors as part of an alleged bribery scheme.
Nature of the U.S. Allegations

The core of the U.S. prosecutors' accusations centres on a scheme to offer and make bribe payments to Indian government officials. While the Adani Group has vehemently denied these charges, describing them as "baseless," the indictment has nonetheless triggered a severe sell-off of Adani stocks in Mumbai, leading to multiple trading halts. The firm has clarified that Adani officials are charged solely with securities fraud, wire fraud conspiracy, and securities fraud, and it disputes any allegations of bribery or corruption against Gautam Adani or his nephew, Sagar Adani.
Broader Repercussions and International Impact

Beyond the financial markets, the group stated that the indictment has resulted in "significant repercussions." These include the cancellation of international projects, impact on financial markets, and increased scrutiny from partners, investors, and the public. Notably, in Kenya, the Adani Group will no longer be involved in plans to expand the country's electricity network and its main airport, where it was slated to invest a combined US$2.586 billion. Sri Lanka has also initiated an investigation into the group's local investments, including a US$442 million wind power deal and a port terminal project estimated to cost over US$700 million.

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What is the total market value lost by Adani Group companies?

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