BENGALURU : Shares of Adani Group's listed companies fell on Friday, adding to their losses from Wednesday when U.S. short-seller Hindenburg Research launched a scathing attack on the conglomerate.Adani Transmission Ltd tumbled 19.2 per cent and Adani Total Gas sank 19.1 per cent in their biggest daily dr
BENGALURU : Shares of Adani Group's listed companies fell on Friday, adding to their losses from Wednesday when U.S. short-seller Hindenburg Research launched a scathing attack on the conglomerate.
Adani Transmission Ltd tumbled 19.2 per cent and Adani Total Gas sank 19.1 per cent in their biggest daily drop since mid-March 2020, while Adani Green Energy sank 15.8 per cent. Adani Enterprises, which kicks off a $2.45 billion secondary share sale on Friday, dropped 6.2 per cent, before paring some losses. The stock was last down 2.2 per cent.
Shares in seven listed group companies of Adani lost $10.73 billion in market capitalisation in India on Wednesday after Hindenburg said it held short positions in Adani Group and flagged concerns about debt levels and the use of tax havens.Meanwhile, billionaire U.S. investor Bill Ackman lent credence to the Hindenburg report, saying that he found it"highly credible and extremely well researched.
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Hindenburg shorts India's Adani Group, cites debt, accounting concernsBENGALURU, India: Hindenburg Research said on Wednesday (Jan 25) it held short positions in Adani Group, accusing the Indian conglomerate of improper extensive use of entities set up in offshore tax havens and expressing concern about high debt levels. The group, which is led by Gautam Adani, the world's t
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Hindenburg shorts India's Adani citing debt, accounting concerns; shares plungeBENGALURU - Hindenburg Research said it held short positions in India's Adani Group, accusing the conglomerate of improper use of offshore tax havens and flagging concerns about high debt that eroded $11 billion (S$14 billion) in investor wealth on Wednesday (Jan 25). The group, which is led by Gautam Adani, the world's third richest person according to Forbes, dismissed the...
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India's Adani Group says evaluating action against Hindenburg ResearchBENGALURU : Adani Group said on Thursday it is evaluating 'remedial and punitive action' under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens.Shares in seven listed group companies of Adani lost $10.73 billio
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India's Adani Group says it is evaluating action against Hindenburg ResearchBENGALURU: Adani Group said on Thursday (Jan 26) that it is evaluating 'remedial and punitive action' under United States and Indian laws against short-seller Hindenburg Research
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‘Largest con in corporate history’: US short-seller goes after Gautam Adani’s sprawling empireWith a net worth of US$113.4 billion, the Indian industrialist is richer than Bill Gates and Warren Buffett. Read more at straitstimes.com.
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Who is behind Hindenburg, the company that is shorting Adani?NEW YORK: Short-seller Hindenburg Research disclosed on Wednesday (Jan 25) short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. T
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