When Hindenburg Research published a report into Gautam Adani’s sprawling business empire in January 2023, accusing Asia’s then richest man of fraud going back decades, the impact was immediate and explosive: over $100 billion was wiped off the value of his companies. Eighteen months on, Adani — who has denied any wrongdoing — has largely […]
By Urvi Dugar, Shankar Ramakrishnan and Jayshree P Upadhyay (Reuters) -Hindenburg Research refuted allegations on Monday from India’s securities regulator accusing the company of colluding with a U.S. asset manager to use non-public information to set up its short bet against Adani Group last year. In a statement posted to its website, U.S.-based short-seller Hindenburg […]
By Urvi Dugar and Shankar Ramakrishnan (Reuters) -U.S-based short-seller Hindenburg Research said on Monday India’s securities regulator had sent it a letter outlining suspected violations over its short bet against Adani Group last year and revealed it may “barely come out above breakeven” on its trade. Hindenburg also said Kotak Bank, an Indian firm, created […]
By Shivam Patel NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi and election rival Congress party leader Rahul Gandhi traded barbs about campaign funding on Wednesday, with both sides accusing the other of taking money from top industrialists Mukesh Ambani and Gautam Adani. Neither of the business leaders have made any public comment about […]
(Bloomberg) — US prosecutors have widened their probe of India’s Adani Group to focus on whether the company may have engaged in bribery as well as the conduct of the company’s billionaire founder, according to people with direct knowledge of the matter. Most Read from Bloomberg Investigators are digging into whether an Adani entity, or […]
Gautam Adani just became the richest man in Asia again. Photo by Vishal Bhatnagar/NurPhoto via Getty Images After a year of controversy around his business, Gautam Adani, the chairman of India’s Adani Group, is the richest man in Asia once again. Adani’s net worth just increased by $13 billion to $ 97.6 billion over the […]
(Bloomberg) — Bearish wagers against the Adani Group and Icahn Enterprises Inc. have rounded out another remarkable year for activist short seller Hindenburg Research. Most Read from Bloomberg The US firm kicked off 2023 with allegations of accounting fraud and stock manipulation against Indian billionaire Gautam Adani’s conglomerate that led to a market value erosion […]