When Hindenburg Research published a report into Gautam Adani’s sprawling business empire in January 2023, accusing Asia’s then richest man of fraud going back decades, the impact was immediate and explosive: about $100 billion was wiped off the value of his companies.
When Masoom Ali Shaikh arrived in Mumbai in 1974 as a young man from northern India, the patch of land where he set up shop was “just a creek with no proper road and garbage all around,” he said.
Indian markets hit record highs on Monday as experts predict a resounding victory for Prime Minister Narendra Modi in national elections.