Hindenburg hints at another 'big' report on India soon
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
US-based investment research firm Hindenburg Research has made a cryptic announcement hinting at another major India-focussed report.
“Something big soon India,” read a Hindenburg post on X on Friday.
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.
Charges against Adani
Those accusations, which the Adani Group denied, led to a significant drop in Adani's stock prices. The Adani Group’s losses exceeded USD 100 billion.
The Hindenburg report accused the conglomerate of stock manipulation and fraud, alleging that Adani had artificially inflated its share prices.
The short seller released its report two days before Adani Enterprises issued a USD 2.5 billion follow-up public offering.
Adani rebuts accusations
In March, Gautam Adani, chairman of the Adani Group, claimed that the Hindenburg report was a deliberate attempt to destabilise his company and damage the reputation of the Indian government.
Later in June, Adani said: “In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which (the) Group has been established.”
In January this year, the Supreme Court cleared the Adani Group of the allegations made in the Hindenburg report.
