Gautam Adani is one of the most well-known business tycoons in India. The Adani Group faced a severe crash after Hindenburg’s research based on confidential reports published two days ago.
Adani has lost 20 % of claims made after the reports got revealed. Adani Green, Adani Transmission, and Adani Total Gas lost 20% each. Moreover, Adani Ports lost almost 20% making it to the lowest value in two years of Rs 572.25.
Adani Group Action on Hindenburg
Despite all these accusations, the Adani group has challenged the group as they saying that the reports are purely unresearched and are only proposed to defame the company. Adani Group has threatened Hindenburg Research that they will face action in both Indian and US Courts.
Hindenburg Research’s report accuses Adani Group of stock manipulation, accounting fraud, and other cooperation issues. Research further mentions that even if the reports are ignored, the face value shares of 7 major companies have an 85% downside purely on a fundamental basis owing to sky-high valuations.
Here’s a list of companies that invested in Adani’s FPO:
Also Read: Adani Group Did This to Pull Down Airtel and Jio 5G Services!!
#AdaniEnterprises#AdaniGroup#adaniports
Source: https://t.co/ZBCm65KRwj pic.twitter.com/6SStCpT3jN— Manoj (@ManInspidermeme) January 27, 2023
The End..! Modi's FriEnd..!#AdaniGroup pic.twitter.com/0EzT2M0slk
— Suban.M (@idsuban7) January 27, 2023
The sticks holding the falling building #AdaniGroup #AdaniEnterprises #ADANIENT #stockmarketcrash #Hindenburg #HindenburgReport pic.twitter.com/Z0gx8t6iC4
— Stockflix (@stockflixx) January 27, 2023
Adani group's stock touching lower circuit today 📉 #AdaniGroup #stockmarketcrash@AdaniOnline @NSEIndia @BSEIndia pic.twitter.com/ssH0efHf8W
— Vishal Gupta (@Vishal_Gupta47) January 27, 2023
Congress seeks SEBI, RBI probe into Hindenburg charges against Adani Group#Congress #SEBI #RBI #AdaniGroup #HindenburgReport pic.twitter.com/4QsLJzDnGV
— GoodReturns.IN (@GoodReturnsIN) January 27, 2023