Hindenburg row: Adani group reassures investors as stocks plunge further

Says business plans "fully funded" after reports about revenue target cut and capex halt

Adani group stocks declined on Monday amid reports that the conglomerate is planning to cut down its revenue target by half and hold fresh capital expenditure. All 10 Adani stocks declined between 3 per cent and 7 per cent; six group stocks were locked in the lower circuit.

The group sought to reassure investors, saying it had strong cashflows and its business plans were fully funded. Group stocks are under pressure since January 24 following a critical report by American short-seller Hindenburg Research.  

The group in a statement to Reuters said the balance sheet of each of its independent portfolio