Bad news came for Gautam Adani as soon as the market opened this morning, the prices of Adani Group's shares fell to the ground, causing a huge loss to Adani and the falling shares have increased Adani's tension. Let's know the whole news in detail
After the report of American research firm Hindenburg, the fall in the shares of Adani Group is not stopping. A bigger decline than Wednesday is being seen today i.e. on Friday. There is a rush to sell all the shares of Adani Group. Due to the sale of Adani Group's shares, pressure is also dominating the stock market.
As soon as the market opened today, the shares of Adani Green Energy fell by more than 16 percent. The stock fell to 52 weeks low of Rs 1564. At the same time, Adani's Total Gas has declined by more than 16 percent.
Adani's 7 shares fell heavily
Whereas from today the FPO of Adani enterprises has been opened. But before this, the stock fell by more than 6 percent and reached close to the FPO price. On the other hand, in Adani Power, Adani Wilmar, a lower circuit of 5-5 percent has been set up. While a decline of about 5 percent has been recorded in Adani Port.
Earlier on Wednesday, due to the report of forensic financial research firm Hindenburg, Gautam Adani suffered a loss of Rs 50,000 crore, and today there is a possibility of an even bigger loss.
Forensic financial research firm Hindenburg has released a report of its own. It has been said that there is a short position in Adani's companies. The report has also raised questions on the Adani Group Debt of all Adani Group companies. The report claimed that 7 major listed companies of the Adani Group are overvalued by more than 85 percent.
The firm has fired 88 questions
In the latest report of Hindenburg Research, 88 questions have been asked to the Adani Group. This report changed the sentiment of Indian investors. Although Adani Group has also given a strong reply to the American research firm Hindenburg. Adani group has termed the report as nonsense. Adani Group has rejected this entire report and termed it as malicious.
Adani Group CFO Jugeshinder Singh said, 'We are shocked that Hindenburg Research has published a report on 24 January 2023 without making any effort to contact us or verify the factual matrix. The report is a malicious combination of selective misinformation and stale, baseless, and defamatory allegations that have been tested and debunked by the Supreme Courts of India.' Apart from this, Adani Group is also considering legal action against the American firm.
What is Hindenburg Research?
Meanwhile, the history of Hindenburg Research has also come to the fore. Hindenburg has a track record of finding corporate wrongdoing and suing companies. Hindenburg Research is a forensic financial research firm that analyzes equity, credit, and derivatives. It is founded in the year 2017 by Nathan Anderson.
