Gautam Adani’s seven listed companies have lost a combined ~$50B in market value since the release of Hindenburg Research’s report on Tuesday alleging widespread fraud.  Adani Enterprises was down almost 20% on Friday, its largest decline since 2017. Adani Green Energy and Adani Total Gas declined by the daily 20% limit. More: Trading volumes in Adani stocks are three times their three-month average. India’s NSE Nifty 50 Index was down 1.6%, with bank stocks leading the losses as investors worried about their exposure to the Adani Group. According to sources, the Securities and Exchange Board of India (SEBI) said it would review the Hindenburg Research report and add it to its ongoing investigation into Adani Group’s foreign portfolio investors. Gautam Adani’s net worth has dropped to $96.6B in the last few days from ~$113.4B. Adani Group has dismissed the report, calling it maliciously mischievous and unresearched, and said it is exploring legal action.