Adani counters Hindenburg but India’s emerging market star status dims

The start of 2023 was meant to be India’s. The nation’s fast-growing economy and rapidly expanding equity markets had convinced money managers from Morgan Stanley Investment Management to State Street Global Advisors to call it a top investment destination.  Then came the $50 billion selloff in billionaire Gautam Adani’s corporate empire. It’s a shock that forces Wall … Read more

Adani Group Says Hindenburg Report Constitutes Securities Fraud Under Indian Law

The group questioned the “ulterior motives” and modus operandi of Hindenburg that, it said, has conveniently ignored the Indian judiciary and regulatory framework. The Adani Group said there are three key themes from the Hindenburg report: Selective and manipulative presentation of matters already in the public domain to create a false narrative. Complete ignorance or … Read more

Adani group counters questions raised by Hindenburg Research

The Adani Group on Sunday launched a counter to the allegations made by short-seller Hindenburg Research terming the report as a false narrative written with a malafide intent without understanding Indian laws.  In a 413-page response to the report released by Hindenburg Research last week, the Adani group said, “The document is a malicious combination … Read more

Adani Enterprises FPO: Amid the Hindenburg saga, what do the fundamentals indicate ?

The follow-on public offer (FPO) by Adani Enterprises (AEL) has been off to a rocky start, with serious allegations from an overseas short-seller emerging on the eve of the issue. With the AEL share price trading 11-15 per cent below the offer price of ₹3,112-3,276, the FPO, which is open between January 27 and 31, … Read more

Four Adani listed companies on brink of delisting threshold: Hindenburg Research

Four of Adani’s listed companies are on the brink of the delisting threshold due to high promoter ownership, according to a report released by Hindenburg Research, an investment research firm with a focus on activist short-selling. The report also said that five companies in the group (all but Adani Ports and Adani Wilmar) have current … Read more