A survey by LocalCircles has found that 71 per cent of Indians associated with stock markets are concerned about governance issues at Gautam Adani-led Adani Group of companies. The concerns grew after the stock witnessed a massive selloff after US-based short seller Hindenburg Research leveled allegations of fraud and stock price manipulation last month.
According to the survey 51 per cent Indians with direct or indirect exposure to stock markets were "very concerned" while 20 per cent respondents were "somewhat concerned" with Adami Group companies.
As per the survey 61 per cent of the respondents wanted external investigations into the allegations leveled by Hindenburg Research and approximately 34 per cent respondents wanted market regulator Securities Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) to conduct investigations into the group.
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Around 27 per cent respondents called for appointment of external auditors to investigate the matter.
LocalCircles survey had 29,000 respondents from 273 districts across the country. According to the surveyor 66 per cent respondent were males while 34 per cent were females.
Meanwhile, Adani Group shares resumed their selloff on Thursday after two days of breather after financial index provider MSCI said on Thursday that some Adani securities should no longer be designated as free float, after market participants raised concerns about the eligibility of the conglomerate's companies for some of its indexes, according to news agency Reuters.
Adani Group companies have already seen $110 billion wiped off in market capitalization for its seven listed stocks more than two weeks after the US-based short seller accused the conglomerate of improper use of offshore tax havens and stock manipulation.
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