Adani cuts growth target after short-seller report crisis
Mumbai | Gautam Adani’s conglomerate has halved its revenue growth target and plans to hold off fresh capital expenditure, according to people familiar with the matter, as the Indian billionaire seeks to rebuild investor confidence in the wake of a bruising short-seller attack.
The group will now shoot for revenue growth of 15 to 20 per cent for at least the next financial year, down from the 40 per cent growth originally targeted, said the people, who did not want to be named because the discussions are private.
Bloomberg
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