Adani group stocks fall after US probe report

MUMBAI: Adani group stocks slid up to 2.4% in Tuesday’s weak market following reports that the US was investigating if group companies traded in Iranian LPG, which is sanctioned under the country’s laws. The Ahmedabad-based group, on Monday, denied any such business practice and called the report ‘mischievous’. The day’s slide in the group’s stock left shareholders in the Adani conglomerate poorer by Rs 24,500 crore, with the aggregate market capitalisation down to Rs 13.5 lakh crore. TNN