Shares of Adani investor GQG plunge in Australia after UBS downgrade

Shares of Adani investor GQG plunge in Australia after UBS downgrade

FILE PHOTO: The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. REUTERS/Amit Dave/File Photo

Shares of Australian-listed GQG Partners tumbled 13% on Monday after UBS downgraded the stock and said the firm may have lost A$600 million ($390 million) in funds under management in the two days following the indictment of Adani Group executives.

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