India's market regulator Securities and Exchange Board of India has decided to keep a closer eye on Adani Group, after it was accused of market manipulation and accounting fraud by research firm Hindenburg.
The move to increase scrutiny comes at a time when Adani's stocks have crashed more than 20 per cent since the report was made public. In response to reports of Adani taking legal action, Hindenburg has challenged the firm to file a suit in the US.
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