GQG Partners stock tops amid Adani bribery news; down more than 20% in the Australian market

As shares of Adani Group tumbled amid US court allegations against Gautam Adani in a bribery and fraud case, shares of GQG Partners also took a hit. As reported by Zee Business, the stock of GQG Partners- which has invested heavily in the group’s stock after the Hindenburg Saga has fallen to 20 percent in the Australian market.

It is reported that after the allegations regarding Gautam Adani, GQG Partners has come up with the release of the Australian Exchange in relation to the US District Court and SEC orders against the conglomerate.

The company primarily said it is overseeing the charges against Gautam Adani and other executives of the Group and the company by the US Attorney’s Office for the Eastern District of New York and the US Securities and Exchange Commission.

At last count, GQG Partners shares were down more than 20 percent at $2.11 AUD.

“Our team reviews emerging data and determines what, if any, actions for our portfolios are appropriate,” GQG’s statement said.