New Delhi: US-based investment research firm “Hindenburg Research” on Saturday shared a cryptic post hinting at another major India-focused report. This comes more than a year after the firm released a report alleging “insider trading” and other stock market violations by the Adani Group of companies. The previous accusations of financial misconduct led to a significant drop in Adani’s stock prices.
In 2023, following the allegations against the Adani Group, shares of various Adani companies plummeted, with reported losses exceeding USD 100 billion. The report accused the group of financial irregularities, though the group has denied these claims.
The Hindenburg report accused the conglomerate of stock manipulation and fraud, alleging that Adani had artificially inflated its share prices. These accusations, detailed in the report by the short-seller Hindenburg Research, led to a decline in the stock prices of various Adani Group companies, with losses reportedly exceeding USD 100 billion.
The US-based short seller released its report just two days before Adani Enterprises issued a USD 2.5 billion follow-up public offering.
The Adani Group has denied all the allegations made in the Hindenburg Research report.
