Hindenburg or Adani Group on which side does it goes?
Indian billionaire Gautam Adani lost $6 billion, after activist investment firm Hindenburg Research published a scathing 100 page report on Adani and his group, alleging massive fraud and stock manipulation. Hindenburg, which disclosed a short position against Adani Group companies, accused Adani of “pulling the largest con in corporate history.” Adani group stocks took a beating for a second straight session on Friday, falling up to 20 per cent and losing over ₹ 4.17 lakh crore from the combined market valuation of listed firms after the US-based investment research firm Hindenburg Research made damaging allegations. Adani may take legal action against Hindenburg for 'mischievous' report? After a report by American short-seller Hindenburg Research left Adani Group investors poorer by Rs 1 lakh crore in 1 day, the conglomerate today said it is evaluating legal action. "We are evaluating the relevant provisions under the US and Indian law...