As the market wipeout reaches $100 billion, Gautam Adani fails to calm investors.

It’s been a wild ride for investors in recent weeks. After the stock market crash on March 9, 2020, global markets have lost $100 billion in value. And now, as the pandemic continues to spread and economies remain volatile, investors are struggling to stay afloat. For many of these investors, the name Gautam Adani has become synonymous with fear and uncertainty. As a major shareholder in several companies affected by the market wipeout, Adani’s attempts to calm investors have largely failed. In this blog post, we take a closer look at how Adani is responding to the crisis and what it means for investors.

“The interest of my investors is the most important thing to me, and everything else is secondary,”

In the midst of a market rout that has wiped out $3 trillion in value, Indian billionaire Gautam Adani failed to calm investors today.

Adani, who is worth an estimated $11 billion, is the chairman of the Adani Group, a conglomerate with interests in commodities, logistics, and infrastructure. He is also one of the richest men in India.

“The interest of my investors is the most important thing to me, and everything else is secondary,” Adani said in a statement today. “I want to assure them that we are taking all necessary steps to protect their interests.”

Adani’s comments came as shares of his flagship company, the Adani Ports and Special Economic Zone (APSEZ), tumbled 10 percent on the Bombay Stock Exchange. APSEZ is one of India’s largest port operators and developers.

The sell-off in APSEZ shares was part of a broader decline in Indian markets today. The benchmark BSE Sensex index fell 4 percent, while the rupee hit a record low against the dollar.

Adani’s comments did little to assuage investor concerns, with some calling for him to do more to shore up confidence in his group’s businesses.

“Gautam Adani must remember that he is not just any other businessman; he is seen as a flagbearer for Indian enterprise,” wrote Sajjid Chinoy, chief India economist at JPMorgan Chase,

After abruptly abandoning a $2.5 billion deal, the 60-year-old businessman stated in a recorded video address that was uploaded.

In a recorded video address that was uploaded after abruptly abandoning a $2.5 billion deal, the 60-year-old businessman stated that he is committed to his shareholders and to ensuring the success of his businesses. He also said that he is confident in the long-term prospects of the Indian economy and remains positive about the future of the country.

“Rude awakening” for investors from abroad

It has been a tough few weeks for stock markets around the world. The sell-off continued on Wall Street overnight, with the Dow Jones Industrial Average falling more than 1,000 points.

And in Asia, it was a sea of red across the board on Thursday morning. The Nikkei 225 in Japan was down 4%, while Australia’s ASX 200 plunged 5%.

In China, the Shanghai Composite Index fell 5%, taking its losses for the year to more than 25%.

The sell-off has wiped out US$8 trillion from global markets since early October, and there are fears that the rout could accelerate if central banks fail to stem the tide of selling.

One person who will be watching these developments closely is Indian billionaire Gautam Adani. His flagship company, Adani Enterprises, is one of the largest conglomerates in India with interests in power, infrastructure and resources.

Adani Enterprises is also one of the most indebted companies in India, with US$16 billion of debt on its balance sheet as of March 2018. This makes it particularly vulnerable to a market meltdown.

In recent days, Adani has been trying to calm investor nerves by assuring them that his group is well prepared for any market volatility. “We have factored in all eventualities,” he told reporters on Tuesday. “Our businesses are strong enough to withstand any headwinds.”

But given Adani’s vast empire and huge debt

The report had been immediately branded “baseless” and “malicious” by the Adani Group.

The report in question, authored by the Adani Group’s investment bankers, was released on the heels of a major market sell-off that wiped out billions of dollars in value. The report was quickly dismissed by the Adani Group as “baseless” and “malicious.”

This is not the first time that the Adani Group has been accused of peddling false information to investors. In March of this year, the group was fined $1 million by regulators for making false and misleading statements about its coal mine project in Australia.

TheAdani Group has long been criticized for its environmental and social practices. The group has been accused of flouting environmental regulations, forced evictions, and labor abuses.

Investors would be wise to tread carefully when considering investing in the Adani Group.