On Tuesday the Indian billionaire Gautam Adani was shaking hands with Israeli prime minister Benjamin Netanyahu to mark what should have been a proud moment for his conglomerate.
Adani’s ports division completed a deal to take over Haifa’s port for $1.2bn, a landmark foreign investment for Israel and an emblem of a rising and globally expansive Indian business with solid enough credentials to run critical infrastructure in a deeply security-conscious rich country.
But back in India, on the Bombay Stock Exchange and in Adani’s headquarters of Ahmedabad, the financial future of his eponymous group was on the line.
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