Adani Probe May Worsen Global Funds' Exit From Indian Equities.

The Adani Group, India's largest corporate group, faced a significant market loss after US federal prosecutors accused its founder and executives of bribery to secure solar energy contracts. This development has contributed to a record outflow of global funds from Indian equities, totaling $14 billion since September. While the Adani Group's impact on India's stock market is limited, concerns about corporate governance have been raised, adding to existing worries about earnings momentum and valuation. Despite local institutions supporting the market, the economic backdrop suggests a challenging road ahead for Indian equities. [Extracted from the article]