Adani loses order for 7.5 million smart metres in Uttar Pradesh after Hindenburg fiasco
Image Credit: FPJ
Allegations of fraud made by Hindenburg Research have hit investor confidence around Adani hard, and led to the cancellation of its FPO. The government has also been facing demands for an investigation in the matter, triggering a ruckus in the parliament. But beyond stock markets, the fiasco may also be hitting business operations, as a power utility firm in Uttar Pradesh has cancelled its order for smart meters to Adani.