In its report, Hindenburg said key listed Adani Group companies had "substantial debt", putting the conglomerate on a "precarious financial footing", and that "sky-high valuations" had pushed the share prices of seven listed Adani companies as much as 85% beyond actual value.that he found the Hindenburg report "highly credible and extremely well researched."
Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters - or key shareholders - was "in a high growth phase".
Source: News Formal (newsformal.com)
Indian ENRON.
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Adani shares plunge further as it weighs legal action against short seller firmAdani Group companies' stock prices dropped for a second consecutive trading session after Hindenburg announced its short position in the conglomerate's firms. Should've shorted this when I heard about it. Oh well. Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra Hindenburg exposed Adani Modi's fake 5 trillion dollar model. Its not based on structural reform, fundamentals or sound Industrial policy but on ponzi & zombie scheme for inflating stock markets putting at risk capital of both onshore & offshore investors on pretext of Infra
Source: CNBC - 🏆 12. / 72 Read more »
India's Adani kicks off $2.45 billion share sale while under short-seller attackIndia's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, days after the Adani conglomerate - controlled by one of the world's richest men - was attacked by a short seller.
Source: Reuters - 🏆 2. / 97 Read more »
India's Adani kicks off $2.45 bln share sale while under short-seller attackIndia's Adani Enterprises Ltd began a record $2.45 billion secondary share sale for retail investors on Friday, as a heavy selloff in Adani group companies intensified after an attack by a U.S.-based short seller.
Source: Reuters - 🏆 2. / 97 Read more »
Adani group stocks drag Indian shares to 1-week lowIndian shares sank more than 1% on Wednesday, dragged down by Adani group stocks after a short-seller raised fresh concerns about the group's debt in a report that had a ripple effect across the market.
Source: Reuters - 🏆 2. / 97 Read more »
Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff. Hindenburg also wants them to take legal action. What a threat ! But Truth is powerful
Source: Forbes - 🏆 394. / 53 Read more »
Adani Group Weighs Legal Action Against Hindenburg After Listed Shares Take Major HitThe group’s founder Gautam Adani dropped to fourth on Forbes' list of the world’s richest people, as the conglomerate’s listed companies continue to be hit by a selloff. If the investigation is in India, verdict is predictable. He will do no such thing because a court will bring even more things to the fore though discovery adanigroup courts in US probably have more integrity and atleast not as casteist as indian judiciary Everyone knows he is a crook in india, but since he funds a political party, he is off limits from every institution. The Hindus believe that the hindu might remain they need money, but they forget that it is they who are bein fckd and they feel pride in it.
Source: Forbes - 🏆 394. / 53 Read more »