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The electric vehicle maker is aiming to build a facility to produce its Blade Battery, which it claims is safer than other alternatives in the market

Shares of Adani companies fell further on Tuesday, with total losses exceeding $120 billion, after a court hearing into the market rout began and claims their stock values are still 'astronomical'

Regulators are said to be probing the sharp sell-off in Adani Group companies, while also looking into trade patterns and any potential irregularities in its now-shelved share sale

The discovery comes at a time when India is looking to strengthen its supply of critical minerals that will be crucial for furthering its electric vehicle plans

Shares of Adani Enterprises were down 11%, while stocks of five other group firms – Ambuja Cements, Adani Power, Adani Transmission, Adani Total Gas and Adani Green were down 5% to 9%

Environment minister said impacts from the proposed coal mine on local and global ecosystems would be substantial

Shares of the group's flagship rose after news Adani will repay some loans, while analysts suggest assets could be sold or spending plans deferred to bolster credibility