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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The city gas distribution company’s stock is already the Adani group’s worst performer. The announcement by key stakeholder TotalEnergies of a halt to any further investment imperils its big LNG push and may put paid to hopes of a recovery.
Shareholders of Adani Total Gas Ltd can’t seem to catch a break.
Since short-seller Hindenburg Research went public with allegations of fraud against the Adani group, no other stock in the Gautam Adani-led conglomerate has destroyed more wealth. From its peak in January 2023, ATGL has lost 85% of its value. In the process, Rs 3.67 lakh crore of its market capitalization has been erased.
And, it is only going to get worse. On Monday, French oil and gas giant TotalEnergies SE, which owns a 37.4% stake in the joint venture with Adani, issued a statement that it will not …
