Gautam Adani decides against bid for stake in PTC India: Report

Billionaire Gautam Adani has decided against bidding for a stake in state-backed electricity trader PTC India, Bloomberg reported. This comes after Adani Power recently called off its plan to acquire a coal plant project in central India that could've been valued at ₹7,020 crore. Adani firms' combined market value has fallen by $130 billion after Hindenburg Research's report was released.